zombie bank

English

Etymology

First used in reference to the Asian Financial Crisis of 1997, possibly coined by economist Edward Kane.

Noun

zombie bank (plural zombie banks)

  1. (finance, banking, derogatory) A bank that is insolvent but is sustained by government intervention.
    • 1997 December 30, Martin Mayer, “Why Secrecy is Bad for Banking”, in Wall Street Journal‎:
      But governments and central banks vouched for the zombie banks, which were able to keep borrowing dollars from banks in other countries.

Derived terms

Further reading
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