ninja loan


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ninja loan

n
(Banking & Finance) informal a type of high-risk loan issued to borrowers with no income, no job, and no assets
[C21: from n(o) in(come no) j(ob no) a(ssets)]
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
Summary: Commercial Bank of Qatar (CBQ) obtained a US$ 166 million three-year ninja loan from international banks for general corporate purposes.
signed a debut $166 million 3-year Ninja Loan facility on 23 March 2016.
Commercial Bank has signed a debut $166mn three-year Ninja Loan facility, which is the first one for a GCC financial institution.
And one could argue that a loan to the government of Greece or Portugal affords little more security than a NINJA loan. Indeed, lending to governments and banks in the European periphery represents the European equivalent of subprime lending in the US (which was also concentrated in a few sunshine states).
NORDIC BUSINESS REPORT-11 July 2008-Volvo Group signs SEK6.2bn Ninja Loan with Japanese financial institutions(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
And the dramatic-sounding "ninja loan" is defined as "a type of high-risk loan issued to borrowers with no income, no job, and no assets", while a "bank run or a run on a bank" is explained as "a rush to withdraw funds from a bank by customers fearing the bank's imminent insolvency".
An example is the sub-prime mortgage market in America - including the NINJA loans issued to people with No Income, No Job and no Assets.
Just look at America's so-called Ninja loans - to people with No Income, No Job or Assets - which sparked the current crisis.