FED SETS SIX-DAY SYSTEM REPURCHASES The Federal Reserve entered the government securities market to arrange six-day repurchase agreements for system account, a spokeswoman for the New York Fed said. Fed funds were trading at 6-3/4 pct at the time of the direct injection of temporary reserves, dealers said. Economists had expected three- or six-day repurchases because the Fed needs to add a large volume of reserves this statement period.