Tax-exempt money market funds had $1.02 billion in outflows, cutting total net assets to $266.94 billion for the week ended Aug. 12, as losses resumed after the biggest inflow in more than a year the previous week.

Last week's gain of $3.84 billion was the largest since July 8, 2012, when the funds grew by $4.64 billion and total net assets soared to $274.7 billion, according to The Money Fund Report, a service of The inflows also surpassed the prior 2013 high set when the industry gained $3.60 billion in the week ended July 8 and total net assets settled at $267.96 billion.

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