Tax-exempt money market funds lost $1.70 billion and total net assets declined to $268.31 billion in the week ended Sept. 3 - the second consecutive week of significant losses, according to the Money Fund Report, a service of iMoneyNet.com.

The previous week, $2.45 billion fled the funds and total net assets settled at $270.01 billion - and that was on the heels of a modest $124.8 million that flowed in during the week ended Aug. 20.

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