Distinguish between “ funded debt” and  “floating debt”

Funded debit is a long term debt incurred by the government that is backed by real assets whose date of repayment is not known and not fixed.  Whereas floating debt is a short term debt incurred by the government which is not backed by any security, but merely the creditors’ confidence in the government promise e.g. advances from central bank, sale of short  term bills by commercial bank.