Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun finance, banking A bank that is
insolvent but ispropped up by government intervention
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
First used in reference to the Asian Financial Crisis of 1997, possibly coined by the economist Edward Kane.
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Examples
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skipvia commented on the word zombie bank
A bank whose debts are greater than its assets but that continues to operate due to an infusion of government capital--the walking dead of financial institutions. CitiBank is currently in that category, as are a few others. See this article for a reference.
March 2, 2009
sonofgroucho commented on the word zombie bank
Doesn't the current crisis throw up some lovely phrases?
March 2, 2009
reesetee commented on the word zombie bank
"Throw up" being a highly appropriate phrase here....
March 3, 2009
bilby commented on the word zombie bank
I'd like to close my account and withdraw all my zombies, plus interest of course.
March 6, 2009
sonofgroucho commented on the word zombie bank
I'm afraid there won't be much interest.
March 9, 2009
reesetee commented on the word zombie bank
Ha!
March 9, 2009