Federal Register / Vol. 73, No. 201 / Thursday, October 16, 2008 / Notices 61453 

there be no restrictions to promote 

liquidity in the marketplace? 

1.6 What are the key issues the 

Treasury should consider in 

determining the possible losses to 

which the government would be 

exposed in offering the guarantee? What 

methodology should be used to 

determine possible losses? Does it differ 

by asset class? If so, please describe 

using the same asset classes as 

enumerated under 1.21–1.24. Does it 

differ by the degree to which the asset 

is troubled? 

1.7 What are the key elements the 

Treasury should consider in setting 

premiums for this program? Is it feasible 

or appropriate to set premiums 

reflecting the prices of similar assets 

purchased under Section 101 of the 

EESA? 

1.7.1 If use of prices of similar assets 

purchased under Section 101 of the 

EESA are not feasible or appropriate, 

should premiums be set by use of 

market mechanisms similar to (but 

separate from) those contemplated for 

the troubled assets purchase program? 

How would this be implemented? If not 

feasible or appropriate, what 

methodologies should be used to set 

premiums? 

1.7.2 Do these considerations of 

feasibility or appropriateness vary by 

asset class? If so, please describe using 

the same asset classes as enumerated 

under 1.21–1.24. Should the premiums 

vary by the degree to which the asset is 

troubled? 

1.8 How and in what form should 

payment of premiums be scheduled? 

2 How should a guarantee program 

be designed to minimize adverse 

selection, given that the program must 

be voluntary? Is there a way to limit 

adverse selection that avoids 

individually analyzing assets? 

3 What legal, accounting, or 

regulatory issues would such a 

guarantee program raise? 

4 What administrative and/or 

operational challenges would such a 

guarantee program create? 

4.1 What expertise would Treasury 

need to operate such a guarantee 

program? Please describe for all facets of 

the program. 

5 What are the key issues to be 

considered in determining the eligibility 

of a given type of financial institution to 

participate in this program? Should 

these eligibility provisions differ from 

those of the troubled asset purchase 

program? 

6 What are the key issues to be 

considered in determining the eligibility 

of a given asset to be guaranteed by this 

program? Should eligibility provisions 

of assets to be guaranteed under this 

program differ from those of the 

troubled asset purchase program? 

7 Assuming the guarantee is priced 

to cover expected claims, are there 

situations (perhaps created by 

regulatory or accounting considerations) 

in which financial institutions would 

prefer this program to the troubled asset 

purchase program? Please describe. 

7.1 Does this preference differ by 

type and condition of the asset? For 

what troubled assets might financial 

institutions choose to participate in the 

guarantee program rather than sell 

under the troubled asset purchase 

program? Is accommodating this choice 

likely to best promote the goals of the 

EESA? Does it adequately protect the 

taxpayer? If not, what design feature 

should be included to assure these goals 

are met? 

Dated: October 10, 2008. 

Lindsay Valdeon, 

Deputy Executive Secretary, Treasury 

Department. 

[FR Doc. E8–24686 Filed 10–14–08; 4:15 pm] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

Departmental Offices; Debt 

Management Advisory Committee; 

Meeting 

Notice is hereby given, pursuant to 5 

U.S.C. App. 2, section 10(a)(2), that a 

meeting will be held at the Hay-Adams 

Hotel, 16th Street and Pennsylvania 

Avenue, NW., Washington, DC, on 

November 4, 2008 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, section 10(d) and Public 

Law 103–202, section 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, section 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, section 

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, section 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. 552(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: October 3, 2008. 

Anthony W. Ryan, 

Acting Under Secretary for Domestic Finance. 

[FR Doc. E8–24361 Filed 10–15–08; 8:45 am] 

BILLING CODE 4810–25–M