Minutes of the Meeting of the Treasury Borrowing Advisory Committee February 4, 2025

The Committee convened in a closed session at the Department of the Treasury at 9:00 a.m. All members except Anshul Sehgal were present. Andrew Hollenhorst from Citigroup was also present to assist the Committee Chair. Acting Assistant Secretary for Financial Markets 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 Nahiomy Alvarez, Chris Cameron, Nicholas Chisholm, Dave Chung, Gabriella Csepe, Shahnewaz Khan, Chris Kubeluis, Kyle Lee, Hunter McMaster, Brian Plesser, Gavin Ross, Joshua Stachura, and Renee Tang. Federal Reserve Bank of New York staff members Oliver Giannotti, Ellen Correia Golay, Brett Rose, and Kyle Watson were also present. Acting Assistant Secretary Smith opened the meeting and welcomed Jill Funk as the newest member of the Committee.