The cut in the interest rates has not had very much impact in California for two reasons. First of all, banks are still afraid to loan.

降低利率在加利福尼亚州没造成很大影响的原因有二。第一，银行仍然害怕放贷。

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Stocks, too, took a hit, although the sell-off in the U. S. was also fueled by renewed concerns about the impact that home loan foreclosure problems will have on banks.

股市遭受打击，各级银行的房屋贷款止赎问题引发新的担忧情绪，导致美国股市出现抛售。

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Mortgage delinquencies have yet to stabilise, with supposedly high-quality "prime" loans now also souring fast and loan-modification schemes having little impact.

按揭贷款犯罪还没有得到稳定，据说高质量首贷现在也迅速膨胀，贷款调整计划没有什么影响。

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David Trone, bank analyst at JMP Securities, says traditional banking like making loans to consumers and businesses should be relatively flat as loan growth remains muted and the impact of releasing loan loss reserves continues to peter out.

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The Education Department is also warning that the cuts will impact up to 29 million student loan borrowers and that some lenders may have to lay off staff or even close.

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While an increase in prime loan rates will likely impact both interest income as well as interest expense for Wells Fargo, the fact that Wells Fargo derives the majority of its funding from low cost core deposits will help the firm restrain its interest expense even as interest rates increase and thus boost its net interest margins.

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