October 10, 1983

New York's subway riders can expect two to three years of ''frustration'' as major work on rebuilding the system gets under way, Robert R. Kiley, the chairman-designate of the Metropolitan Transportation Authority, said today. ''Users of the subway in New York City are facing very difficult circumstances, more than any others in the country,'' Mr. Kiley said in an interview. ''They're going to have to put up with rebuilding the system. It's going to be a frustrating two or three years.'' Outside the weathered gray-shingled house at Lambert's Cove on Martha's Vineyard, where he went to relax with his family this weekend, Mr. Kiley discussed some of the changes he envisions for the largest mass-transit and commuter-rail system in the country.

Swissair Flight 100 from Zurich was a quarter-mile from Kennedy International Airport. As it neared, Myron Shulman lifted his camera and began snapping pictures. ''This is going to be a good one, a really good one,'' he said, running down the sandy bluff for a better look. ''It's a beautiful thing to see.''

WANTED: President for large financial institution in Southeast. Must have exceptional economic skills and be a strong administrator. Will have opportunity to be regional spokesman and influence national economic policy. Incumbent's 1982 salary: $106,000. This advertisement has not been placed in any newspaper, nor is it likely to be. But it correctly describes the search under way at the Federal Reserve Bank of Atlanta. After only three years on the job, William F. Ford unexpectedly resigned late in August as president of the Fed of Atlanta to become president of the First Nationwide Financial Corporation in San Francisco at a substantial, though undisclosed, increase in compensation.

At least 19 people, including two leading advisers to President Chun Doo Hwan of South Korea and four of his Cabinet ministers, were killed Sunday when a bomb exploded as they prepared for a wreath-laying ceremony in Rangoon, Burma. Forty-seven people were wounded, many seriously. President Chun, who was on an official visit to Burma, escaped harm because his car was delayed in traffic. He arrived five minutes late at the site of the ceremony. By this morning no group had taken responsibility for the bombing. But President Chun blamed North Korea after returning to Seoul early this morning, cutting short what was to have been an 18-day trip to six Asian and Pacific countries. He arrived in Rangoon from Seoul on Saturday.

The president of Brazil's central bank is to meet here Tuesday with scores of American bankers in an effort to convince them to participate in a restructuring of Brazil's foreign debt. The official, Affonso Celso Pastore, is coming here because this is where the bankers are this week, at the annual convention of the American Bankers Association, and the athmosphere for agreement seems positive. Under the plan, approved in principle last week, the banks would lend Brazil $6.5 billion in new funds on which the country would not make principal payments for five years. In addition, the banks would postpone for five years the $5.5 billion in principal on old loans that is due next year.