I. noun
( -s )
Etymology: from gerund of float (II)
1. : the act or action of one that floats
2. : spotty or irregular flooding of paint ; sometimes : separation of a pigment from a mixture whether in bulk or a film
3.
a. : the act or process of spreading or smoothing a surface (as of concrete, mortar, plaster, or stucco) with a float
b. : the second coat of three-coat plastering
II. adjective
Etymology: from present participle of float (II)
1. : buoyed upon or in a fluid
the floating timbers of a wreck
floating motes in the air
floating aquatic vegetation made the canal unusable
2.
a. : free from or lacking the usual attachment — used especially of ribs that join the sternum by a cartilaginous rather than a bony union
b. : being out of the normal position ; especially : abnormally movable and displaced downward or away from normal attachments — used especially of the kidney
3. : continually changing : characterized by shifting or drifting (as from one abode or occupation to another)
the floating population
as
a. : shifting or variable in form, incidence, or subject matter
floating rumors
b. of funds or capital : not presently committed or invested
c. of a debt : falling due within the year ; sometimes : short-term and usually not funded
d. : enforceable in equity as a lien against whatever assets a person may have from time to time leaving him meanwhile more or less free to dispose of or encumber his assets as if no lien existed
a floating charge
floating security
e. : frequently shifted in location to evade detection and arrest of participants
a floating crap game
4.
a. : connected or constructed so as to operate and adjust smoothly (as if floating)
b. : of, relating to, or having mechanical parts connected or constructed in this way
a floating transmission
• float·ing·ly adverb
III. adjective
: having no fixed value or rate
floating currencies
floating interest rates