The total net assets of tax-exempt money market funds dipped to $263.15 billion after $588.70 million of outflows in the week ended Sept. 30, the third consecutive decline, according to The Money Fund Report, a service of iMoneyNet.com.

The modest outflows followed a loss of $2.27 billion the previous week that brought total net assets to $263.74 billion.

The average, seven-day simple yield for the 420 weekly reporting tax-exempt funds was unchanged at 0.01%, while the average maturity declined by one day to 42 days.

Among the 1,020 weekly reporting taxable money funds, total net assets declined to $2.397 trillion after the exit of $7.90 billion in the week ended Oct. 1, which compares to the prior week when the industry added $36.91 billion and total net assets settled at $2.405 trillion.

The average, seven-day simple yield for the taxable money funds held at 0.01%, while the average maturity remained at 48 days.

The combined total net assets of the 1,440 reporting money funds fell $8.49 billion to $2.660 trillion in the week ended Oct. 1. That compares to the prior week when total net assets rose $32.64 billion to $2.668 trillion.

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