Treasury Borrowing Advisory Committee
Also, known as TBAC or the "Borrowing Committee" of The Securities Industry and Financial Markets Association (SIFMA) is an advisory committee governed by federal statute that meets quarterly with the Treasury Department. The Borrowing Committee's membership is comprised of senior representatives from investment funds and banks. The Borrowing Committee presents their observations to the Treasury Department on the overall strength of the U.S. economy as well as providing recommendations on a variety of technical debt management issues - such as the maturity structure of new bond offerings. The Securities Industry and Financial Markets Association does not participate in the deliberations of the Borrowing Committee.
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University