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Originally published Saturday, August 28, 2010 at 10:09 PM

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Money funds rise, yields are flat

NEW YORK — Total money-market mutual-fund assets rose by $3.7 billion to $2.834 trillion for the week, the Investment Company Institute said this past Thursday.

Assets of institutional money-market funds rose by $7.1 billion to $1.867 trillion for the same period. Among institutional funds, taxable money-market fund assets rose by $10.94 billion to $1.735 trillion; assets of institutional tax-exempt funds fell by $850 million to $131.62 billion.

The seven-day average yield on money-market mutual funds in the week ended this past Tuesday was 0.04 percent, unchanged from the previous week, said Money Fund Report, a service of iMoneyNet.

The 30-day average yield was also flat at 0.04 percent, according to Money Fund Report.

The seven-day and 30-day compounded yields were both unchanged at 0.04 percent, Money Fund Report said.

The average maturity of the portfolios held by money funds was 43 days, up from 42 days, said Money Fund Report.

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 dipped to 0.19 percent in the week ended Wednesday from 0.2 percent in the previous week.

The annual percentage yield available on interest-bearing checking accounts fell to 0.12 percent from 0.13 percent a week ago, Bankrate.com said.

The annual percentage yield was 0.36 percent on six-month certificates of deposit, down from 0.37 percent the previous week, according to Bankrate.com.

Yields were 0.63 percent on 1-year CDs, down from 0.67 percent; 0.97 percent on 2 1/2-year CDs, down from 1.02 percent; and 1.81 percent on 5-year CDs, down from 1.88 percent.

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