August 23, 2017 / 7:01 PM / in a year

UPDATE 1-U.S. money market assets highest since December -iMoneyNet

(Adds details on latest data)

NEW YORK, Aug 23 (Reuters) - U.S. money market fund assets grew by $25.44 billion to $2.698 trillion in the week ended Aug. 22 to their highest level in more than eight months, while interest rates offered by these funds held steady on the week, the Money Fund Report said on Wednesday.

In the week of Dec. 13, money fund assets stood at $2.723 trillion.

In the latest week, taxable money market fund assets increased by $25.64 billion to $2.568 trillion, led by a $17.56 billion rise in government institutional fund assets.

Tax-free assets decreased by $203.00 million to $130.17 billion, according to the report, published by iMoneyNet.

The iMoneyNet Money Fund Average 7-Day Simple Yield for all Taxable money-market funds remained at 0.67 percent for the second week in a row.

The iMoneyNet Money Fund Average 7-Day Simple Yield for All Tax-Free and Municipal money-market funds remained at 0.33 percent. (Reporting by Richard Leong)

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