zombie bank
English edit
Etymology edit
First used in reference to the Asian Financial Crisis of 1997, possibly coined by economist Edward Kane.
Noun edit
zombie bank (plural zombie banks)
- (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[1]:
- But governments and central banks vouched for the zombie banks, which were able to keep borrowing dollars from banks in other countries.
Derived terms edit
Further reading edit
- zombie bank on Wikipedia.Wikipedia