zombie bank

English

Etymology

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

Noun

zombie bank (plural zombie banks)

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

Derived terms
  • zombie banker

See also
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