Tax-exempt money market funds lost $973.2 million reducing total net assets to $264.92 billion in the week ended Oct. 14, as outflows resumed after the prior week's gain, according to The Money Fund Report, a service of iMoneyNet.com.
New cash totaling $2.74 billion had arrived in the week ended Oct. 7, the first inflow in four weeks, as total net assets rose to $265.90 billion.
The average, seven-day simple yield for the 420 tax-exempt weekly reporting money market funds remained at 0.01%, while the average maturity remained at 42 days.
Among the 1,020 weekly reporting taxable money funds, total net assets plummeted to $2.341 trillion after the exit of $43.80 billion in the week ended Oct. 15. That compares to the prior week when $12.18 billion of outflows cut total net assets to $2.385 trillion.
The average, seven-day simple yield for the taxable money funds also was unchanged at 0.01%, while the average maturity decreased by two days to 46 days compared with the prior week.
The combined total net assets of the 1,440 weekly reporting money funds settled at $2.606 trillion after the exit of $44.77 billion in the week ended Oct. 15, the largest outflow reported since $51.13 billion fled the funds in the week ended Oct. 30, 2012.
The outflows increased from the prior week, when $9.43 billion left the funds.