zombie bank

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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

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