这些价位明显低于相关证券的面值，而且与同期购买相同Timberwolf证券的其他投资者支付的价格相当。

These levels were substantially below the face value of the securities and consistent with where other investors were purchasing the same Timberwolf securities during the same time period.

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许多证券缺乏流动性，且账面值还是初始的高价。

Many of these are illiquid and still booked at their original, inflated prices.

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其他的银行不用担心，他们中许多银行持有的高声商业财产贷款已经接近面值了，而高盛在其有价证券组合中只支出了一半。

Unnervingly for other Banks, many of which carry their commercial-property loans at close to par value, Goldman marks its portfolio at a mere half that.

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