Minutes of the Meeting of the Treasury Borrowing Advisory Committee November 3, 2026

The Committee convened in a closed session at the Department of the Treasury at 10:45 a.m. All members were present. Denise Rosenhaft Gray from BNY was also present to assist the Committee Chair. Assistant Secretary for Financial Markets Hunter McMaster, Deputy Assistant Secretary for Federal Finance Brian Smith, Director of the Office of Debt Management Fred Pietrangeli, and Deputy Director of the Office of Debt Management Tom Katzenbach welcomed the Committee. Other members of Treasury staff present were Abigail Brown, Chris Cameron, Dave Chung, Gabriella Csepe, Robert Dunsky, Chandler Elwyn, Gary Grippo, Salar Moghadam, Gavin Ross, Renee Tang, and Spencer Woodruff. Federal Reserve Bank of New York staff members Ellen Correia Golay, Peggy Kauh, and Kyle Watson were also present.Director Pietrangeli highlighted changes in receipts and outlays through Q4 FY2026.