FED SEEN ADDING RESERVES VIA SYSTEM REPOS
  The Federal Reserve is expected to enter
  the government securities market to supply reserves to the
  banking system via system repurchase agreements, economists
  said.
      Most economists said the Fed would execute three-day system
  repurchases to meet a substantial need to add reserves in the
  current maintenance period, although some said a more
  aggressive add via overnight system repos was possible.
      Federal funds opened at 7-5/8 pct and remained at that
  level late this morning, compared with an average effective
  rate of 7.55 pct Friday.
  

