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.