NEW YORK (AP) -- Total U.S. money market mutual fund assets fell $14.02 billion to $2.701 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Assets in the nation's retail money market mutual funds fell $6.27 billion to $925.07 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category $4.77 billion to $728.13 billion. Tax-exempt retail fund assets fell $1.50 billion to $196.94 billion.
Assets in institutional money market funds fell $7.76 billion to $1.775 trillion. Among institutional funds, taxable money market fund assets decreased $7.47 billion to $1.7 trillion. Assets of tax-exempt funds fell $290 million to $75.36 billion.
The seven-day average yield on money market mutual funds was unchanged at 0.01 percent from the previous week, according to Money Fund Report, a service of iMoneyNet Inc. in Westborough, Mass. The seven-day compounded yield was flat at 0.01 percent.
The 30-day yield and the 30-day compounded yield were both unchanged at 0.01 percent, Money Fund Report said Wednesday.
The average maturity of portfolios held by money market mutual funds was unchanged from the prior week at 47 days.
The online service Bankrate.com said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on money market accounts was unchanged at 0.12 percent.
The North Palm Beach, Fla.-based unit of Bankrate Inc. said Wednesday that the annual percentage yield available on interest-bearing checking accounts remained steady at 0.05 percent.
Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged at 0.15 percent. One-year CD yields remained steady at 0.23 percent and the yield on two-year CDs fell to 0.36 percent from 0.37 percent. The five-year yield was unchanged at 0.79 percent.