或许传递机制会是美国银行 — — 许多美国银行仍然十分脆弱，因为它们的资本充足率很低，手中的按揭组合簿记价值也远高于市场价值。
Perhaps the transmission mechanism would be through US banks, many of which remain vulnerable, owing to thin capitalization and huge portfolios of mortgages booked far above their market value.