zombie bank

noun

Definition of zombie bank

: 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

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First Known Use of zombie bank

1988, in the meaning defined above

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The first known use of zombie bank was in 1988

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Cite this Entry

“Zombie bank.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/zombie%20bank. Accessed 3 Aug. 2020.

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