Tax-exempt money market funds slipped $1.08 billion to $337.07 billion for the week ending Sept. 13 after experiencing their first inflows in nearly a month the week before, according to the Money Fund Report, a service of iMoneyNet.com.

The outflows come on the heels of a modest $244.5 million buildup the week ending Sept. 6 when the tax-exempt funds closed with $338.1 billion in total net assets.

This week, the iMoneyNet money-fund average seven-day simple yield for the 492 tax-exempt funds in the report remained at 0.03%, while the average maturity declined to 32 days from 33 days.

Assets of the 1,145 taxable money funds increased by an exceptional $11.30 billion to settle at $2.478 trillion for the week ending Sept. 14. The expansion dwarfs the previous week’s inflows of just $681.1 million when the funds wound up with $2.467 trillion in total net assets.

The iMoneyNet average seven-day simple yield for the taxable funds remained at 0.04% for the 13th consecutive week.

Overall, the combined assets of the 1,637 money funds in the report saw a surge of $10.22 billion to end the week of Sept. 14 with $2.82 trillion. The previous  week saw the funds add only $925.6 million as they settled with $2.805 trillion in total net assets.

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