Definition of zombie bank
- “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