backback /bæk/ verb [transitiveT]1to support someone or something, especially by giving money or using your influenceThe board backed Mr Standley, who plans to cut costs.
Shareholders have backed a plan to build a second plant.
2FINANCE if SECURITIES are backed by particular assets, they are supported by income from themThis new generation of securities is backed by aircraft leases, royalty streams from films, student loans and auto loans.
→ see also asset-backed security under security