NEW YORK (AP) — Total money market mutual fund assets fell by $22.15 billion to $3.834 trillion for the week, the Investment Company Institute said Thursday.

Assets of the nation's retail money market mutual funds fell $11.01 billion in the latest week to $1.340 trillion.

Assets of taxable money market funds in the retail category fell by $9.58 billion to $1.054 trillion for the week ended Wednesday, the Washington-based mutual fund trade group said. Tax-exempt fund assets fell by $1.43 billion to $285.97 billion.

Assets of institutional money market funds fell by $11.14 billion to $2.494 trillion for the same period. Among institutional funds, taxable money market fund assets fell by $12.21 billion to $2.301 trillion; assets of tax-exempt funds rose by $1.07 billion to $192.59 billion.

The seven-day average yield on money market mutual funds fell in the week ended Tuesday to 0.23 percent from 0.24 percent the previous week, said Money Fund Report, a service of iMoneyNet Inc. in Westboro, Mass. The 30-day average yield fell to 0.25 percent from 0.27 percent, according to Money Fund Report.

The seven-day compounded yield fell to 0.23 percent from 0.24 percent the previous week, and the 30-day compounded yield fell to 0.25 percent from 0.27 percent, Money Fund Report said.

The average maturity of the portfolios held by money funds was 48 days, down from 50 days, said Money Fund.

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 fell to 0.45 percent as of Wednesday from 0.48 percent week earlier.

The North Palm Beach, Fla.-based unit of Bankrate Inc. said the annual percentage yield available on interest-bearing checking accounts was unchanged from the previous week at 0.16 percent.

Bankrate.com said the annual percentage yield was 1.09 percent on six-month certificates of deposit, down from 1.12 percent the previous week. Yields were flat at 1.35 percent on 1-year CDs; 1.50 percent on 2 1/2-year CDs, unchanged from the previous week; and 2.27 percent on 5-year CDs, up from 2.26 percent.

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