Tax-exempt money market funds lost cash for a second straight week as $2.27 billion exited the industry and total net assets declined to $263.74 billion in the week ended Sept. 23, according to The Money Fund Report, a service of iMoneyNet.com.

In the prior week, total net assets dipped to $266.02 billion after the funds lost $619.5 million -- partly offsetting inflows of $1.92 billion that arrived in the week ended Sept. 9.

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