They never kept all the gold for all the dollars that they issued so you could say it's still backed by gold. The really important thing is it's not convertible into gold.

他们从不持有所有的发行过的,货币价值的金子，所以你可以说它是,被金子支持的，真正重要的在于,它不能转换成金子。

耶鲁公开课 - 金融市场课程节选

An SIV is a company of a sort that invests in assets and they issue something like asset-backed commercial paper, but it's not a real company because it only exists as an organization sponsored by some bank.

IV类似从事资产投资的公司,同时也发行类似资产担保商业票据的证券,但它不是一家真正的公司,因为它只是由某家银行建立的一个组织

耶鲁公开课 - 金融市场课程节选