Friday, April 24, 2009

April 28th Secret Debt Meeting

DEPARTMENT OF THE TREASURY


 


 

Departmental Offices; 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 April 28, 2009

at 10:30 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, Sec. 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, Sec. 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


 

[[Page 16259]]


 

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, financing estimates and technical

charts. This briefing will give the press an opportunity to ask

questions about financing projections and technical charts. 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. 52(b). The Designated Federal

Officer or other responsible agency official who may be contacted for

additional information is Karthik Ramanathan, Acting Assistant

Secretary for Financial Markets (202) 622-2042.


 

Dated: April 2, 2009.

Karthik Ramanathan,

Acting Assistant Secretary for Financial Markets.

[FR Doc. E9-8020 Filed 4-8-09; 8:45 am]


 

BILLING CODE 4810-25-M