Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun banking, economics A bank created to specialize in the ownership of defaulted loans and their collection.
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
Possibly derived from a usage by Walter Bagehot in Lombard Street: "The cardinal maxim is, that any aid to a present bad bank is the surest mode of preventing the establishment of a future good bank."
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