FED SETS TWO-DAY SYSTEM REPURCHASES
The Federal Reserve entered the
government securities market to arrange two-day repurchase
agreements for system account, a spokeswoman for the New York
Fed said.
    Fed funds were trading at 6-1/8 pct at the time of the
direct injection of temporary reserves, dealers said.
    Most economists had expected a less aggressive injection of
reserves via customer repurchase agreements.
 Reuter
