BOARD OF GOVERNORS OFTHE FEDERAL RESERVE SYSTEM January 16, 2009 Mr. Vern McKinley 20745 Ashbum Station Place Ashburn, VA 20147 Request No. 2009100164 Dear Mr. McKinley: On December 17, 2008 the Board of Governors (Board) received your request dated December 17, 2008, pursuant to the Freedom of Information Act (FOIA), 5 U.S.C. § 552 for records pertaining to the expected contagion that would have resulted from the failure of Bear Steams referred to in the Board minutes of March 14, 2008. Pursuant to section (a)(6)(B)(i) of the FOIA, we are extending the period for our response until February 2, 2009, in order to consult with another agency or with two or more components of the Board having a substantial interest in the determination of the request If a determination can be made before February 2, 2009, we will respond to you promptly. It is our policy to process FOIA requests as quickly as possible while ensuring that we disclose the requested information to the fullest extent of the law. Sincerely, Hon felon Jeanne M. McLaughlin Manager Freedom of Information Office