19 October 2011
Treasury Holds Secret Meeting with 1% Panel
[Federal Register Volume 76, Number 202 (Wednesday, October 19, 2011)]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-26422]
DEPARTMENT OF THE TREASURY
Debt Management Advisory Committee; Meeting
Notice is hereby given, pursuant to 5 U.S.C. App. 2, Sec.
10(a)(2), that a meeting will be held at the Hay-Adams Hotel, 16th
Street and Pennsylvania Avenue, NW., Washington, DC, on November 1,
2011 at 9:30 a.m. of the following debt management advisory committee:
Treasury Borrowing Advisory Committee of the Securities Industry and
Financial Markets Association
The agenda for the meeting provides for a charge by the Secretary
of the Treasury or his designate that the Committee discuss particular
issues and conduct a working session. Following the working session,
the Committee will present a written report of its recommendations. The
meeting will be closed to the public, pursuant to 5 U.S.C. App. 2,
Sec. 10(d) and Public Law 103-202, 202(c)(1)(B)(31 U.S.C. 3121 note).
This notice shall constitute my determination, pursuant to the
authority placed in heads of agencies by 5 U.S.C. App. 2, Sec. 10(d)
and vested in me by Treasury Department Order No. 101-05, that the
meeting will consist of discussions and debates of the issues presented
to the Committee by the
Secretary of the Treasury and the making of recommendations of the
Committee to the Secretary, pursuant to Public Law 103-202,
202(c)(1)(B). Thus, this information is exempt from disclosure under
that provision and 5 U.S.C. 552b(c)(3)(B). In addition, the meeting is
concerned with information that is exempt from disclosure under 5
U.S.C. 552b(c)(9)(A). The public interest requires that such meetings
be closed to the public because the Treasury Department requires frank
and full advice from representatives of the financial community prior
to making its final decisions on major financing operations.
Historically, this advice has been offered by debt management advisory
committees established by the several major segments of the financial
community. When so utilized, such a committee is recognized to be an
advisory committee under 5 U.S.C. App. 2, Sec. 3.
Although the Treasury's final announcement of financing plans may
not reflect the recommendations provided in reports of the Committee,
premature disclosure of the Committee's deliberations and reports would
be likely to lead to significant financial speculation in the
securities market. Thus, this meeting falls within the exemption
covered by 5 U.S.C. 552b(c)(9)(A).
Treasury staff will provide a technical briefing to the press on
the day before the Committee meeting, following the release of a
statement of economic conditions and financing estimates. This briefing
will give the press an opportunity to ask questions about financing
projections. The day after the Committee meeting, Treasury will release
the minutes of the meeting, any charts that were discussed at the
meeting, and the Committee's report to the Secretary.
The Office of Debt Management is responsible for maintaining
records of debt management advisory committee meetings and for
providing annual reports setting forth a summary of Committee
activities and such other matters as may be informative to the public
consistent with the policy of 5 U.S.C. 552(b). The Designated Federal
Officer or other responsible agency official who may be contacted for
additional information is Fred Pietrangeli, Deputy Director for Office
of Debt Management (202) 622-1876.
Dated: October 5, 2011.
Assistant Secretary, Financial Markets.
[FR Doc. 2011-26422 Filed 10-18-11; 8:45 am]
BILLING CODE 4810-25-M