FOR IMMEDIATE RELEASE WEDNESDAY, JANUARY 15, 2003 Patricia Buscher CB03-13 Public Information Office (301) 763-3030/457-3670 (fax) (301) 457-1037 (TDD) e-mail: pio@census.gov Quotes and radio sound bites Revenues from Financial Services Down in 2001 Securities and commodity underwriters, dealers and brokers reported revenues totaling $201 billion in 2001, a decline of 16 percent from the previous year, the Commerce Department's Census Bureau said today. Within the financial services sector, revenues of securities brokerages declined 18 percent to $92 billion in 2001 and revenues of investment banking and securities-dealing declined 15 percent to $104 billion in 2001. Among the largest declines in revenue sources for employer firms providing securities and commodity contracts intermediation and brokerage services were commissions from the sale of securities and commodities, which declined 19 percent to $52 billion, and securities trading accounts, which declined 26 percent to $25 billion. The estimates are from the 2001 Service Annual Survey - Securities and Commodity Contracts Intermediation and Brokerage Services. Employer estimates for portfolio management firms and investment advisory firms also are included in the tabulations. Excluded from the tabulations are data on securities and commodity exchanges; monetary authorities of central banks; credit intermediation and related activities; insurance carriers and related activities; and funds, trusts and other financial vehicles. The data are subject to sampling variability and nonsampling error. Sources of nonsampling error include errors of response, nonreporting and coverage. Measures of sampling variability, presented as relative standard errors, are shown in selected tables of the product.