Merriam-Webster Collegiate Dictionary - floating

 adjective  Date: 1600  1. buoyed on or in a fluid  2. located out of the normal position a ~ kidney  3.  a. continually drifting or changing position the ~ population  b. not presently committed or invested ~ capital  c. short-term and usually not funded ~ debt  d. having no fixed value or rate ~ currencies ~ interest rates  4. connected or constructed so as to operate and adjust smoothly a ~ axle