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FINDLAW LEGAL DICTIONARY

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Floating

floating adj

1 : not presently committed or invested [ capital]
2 : short-term and usually not funded [ debt]
3 : having no fixed value or rate [ currencies] [ interest rates]



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.