zombie bank

noun

: a bank that continues to operate despite having liabilities in excess of its assets : an insolvent bank kept in operation especially by government intervention

“Zombie banks” was the term for Japanese financial institutions propped up by government in the 1990s despite their basic insolvency after a real-estate bubble.

—Rich Lowry, The Oregonian (Portland, Oregon), 14 Feb. 2009

We have zombie banks that are weighed down because their liabilities exceed their assets. Without a precise mechanism for addressing toxic assets, it will be difficult to increase lending.

—John Kerry, quoted in New York Times, 11 Feb. 2009

Word History

First Known Use

1988, in the meaning defined above

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Rhymes for zombie bank

• antitank
• interbank
• mountebank
• riverbank
• banc
• blank
• clank
• crank
• dank
• drank
• flank
• franc