"Asset backing" refers to the value of assets that support or back a specific investment or financial product. It ensures that there are valuable assets backing or supporting the value and security of the investment. Full definition
Short and long - term investments consist primarily of auction rate securities in asset backed securities and corporate notes. (sec.gov)
A Billion Dollars worth of asset backed securities need to have a billion dollars of assets behind then, it's a one for one correlation. (money.stackexchange.com)
However, in this case, anyone is allowed to issue their own assets backed by their promises to repay. (bitcoinist.com)