Tax-exempt money market funds continued to lose cash for a second week in a row as total net assets decreased by $679 million to $266.74 billion in the week ended Oct. 22, according to The Money Fund Report, a service of iMoneyNet.com.

The outflows compare to last week when $2.49 billion escaped the industry – after two weeks of inflows -- and total net assets settled at $267.42 billion.

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