backstop

backstop
USA
A term used in the financial industry to mean credit support or backup funds for a financial instrument or transaction. For example, letters of credit are often issued to "backstop" commercial paper in the event that the commercial paper issuer defaults on its payments.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • backstop — [bak′stäp΄] n. ☆ 1. Sports a fence, screen, etc., esp. one behind the catcher in baseball, serving to stop balls from leaving the playing area 2. anything that supports or bolsters vt. backstopped, backstopping to act as a backstop for …   English World dictionary

  • Backstop — Back stop , n. 1. In baseball, a fence, prop. at least 90 feet behind the home base, to stop the balls that pass the catcher; also, the catcher himself. [Webster 1913 Suppl.] 2. In rounders, the player who stands immediately behind the striking… …   The Collaborative International Dictionary of English

  • backstop — (n.) 1819, in cricket, from BACK (Cf. back) (adj.) + STOP (Cf. stop). In U.S. baseball, from 1889, fence behind the catcher; figurative extension to catcher on a baseball team is from 1890. The verb is attested from 1956 in the sense of support.… …   Etymology dictionary

  • backstop — backstopper, n. /bak stop /, n., v., backstopped, backstopping. n. 1. a wall, wire screen, or the like, serving to prevent a ball from going too far beyond the normal playing area. 2. Baseball. the catcher. 3. a person or thing that serves as a… …   Universalium

  • backstop — I. noun Date: 1851 1. something at the back serving as a stop: as a. a screen or fence for keeping a ball from leaving the field of play b. a stop (as a pawl) that prevents a backward movement (as of a wheel) 2. a player (as the catcher)… …   New Collegiate Dictionary

  • backstop — /ˈbækstɒp / (say bakstop) noun 1. Sport a person, screen, or fence placed to prevent a ball going too far. 2. a person who or a thing which is relied on for assistance when all else fails: I have $500 as a backstop. 3. Rowing a wooden block at… …  

  • backstop — I noun 1. (baseball) the person who plays the position of catcher • Syn: ↑catcher • Derivationally related forms: ↑catch (for: ↑catcher) …   Useful english dictionary

  • backstop — 1. noun a) A device that prevents railroad cars from rolling off a railroad track. b) A wall behind home plate. 2. verb a) To serve as backstop for. b) …   Wiktionary

  • backstop — noun 1》 a person or thing placed at the rear of something as a barrier or support. 2》 Baseball a high fence or similar structure behind the home plate area. 3》 Baseball a catcher. verb Baseball act as backstop for …   English new terms dictionary

  • backstop — back•stop [[t]ˈbækˌstɒp[/t]] n. v. stopped, stop•ping 1) spo a wall, wire screen, or the like, serving to prevent a ball from going beyond the normal playing area 2) any support, safeguard, or reinforcement 3) to act as a backstop to • Etymology …   From formal English to slang

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