0000949820-12-000128.txt : 20121018 0000949820-12-000128.hdr.sgml : 20121018 20121018073418 ACCESSION NUMBER: 0000949820-12-000128 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121018 DATE AS OF CHANGE: 20121018 EFFECTIVENESS DATE: 20121018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price Floating Rate Fund, Inc. CENTRAL INDEX KEY: 0001520245 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-174605 FILM NUMBER: 121149505 BUSINESS ADDRESS: STREET 1: 100 EAST BALTIMORE STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST BALTIMORE STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price Floating Rate Fund, Inc. CENTRAL INDEX KEY: 0001520245 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22557 FILM NUMBER: 121149506 BUSINESS ADDRESS: STREET 1: 100 EAST BALTIMORE STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST BALTIMORE STREET CITY: BALTIMORE STATE: MD ZIP: 21202 0001520245 S000033565 T. Rowe Price Floating Rate Fund, Inc. C000103068 T. Rowe Price Floating Rate Fund, Inc. PRFRX C000103069 T. Rowe Price Floating Rate Fund-Advisor Class PAFRX 485BPOS 1 frixrblptc.htm Untitled Document

Registration Nos. 333-174605/811-22557

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933   /X/

 

 Post-Effective Amendment No. 5     /X/

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/

 Amendment No. 6      /X/

T. ROWE PRICE FLOATING RATE FUND, INC.

Exact Name of Registrant as Specified in Charter

100 East Pratt Street, Baltimore, Maryland 21202
Address of Principal Executive Offices

410-345-2000
Registrant’s Telephone Number, Including Area Code

David Oestreicher

100 East Pratt Street, Baltimore, Maryland 21202
Name and Address of Agent for Service

 It is proposed that this filing will become effective (check appropriate box):

/X/ Immediately upon filing pursuant to paragraph (b)

// On (date) pursuant to paragraph (b)

// 60 days after filing pursuant to paragraph (a)(1)

// On (date) pursuant to paragraph (a)(1)

// 75 days after filing pursuant to paragraph (a)(2)

// On (date) pursuant to paragraph (a)(2) of Rule 485

 If appropriate, check the following box:

// This post-effective amendment designates a new effective date for a previously filed post-effective amendment.


Page 2

EXHIBITS

  

Exhibit

Exhibit No.

XBRL Instance Document

EX-101.INS

XBRL Taxonomy Extension Schema Document

EX-101.SCH

XBRL Taxonomy Extension Calculation Linkbase Document

EX-101.CAL

XBRL Taxonomy Extension Definition Linkbase Document

EX-101.DEF

XBRL Taxonomy Extension Labels Linkbase Document

EX-101.LAB

XBRL Taxonomy Extension Presentation Linkbase Document

EX-101.PRE


Page 3

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Baltimore, State of Maryland, this October 18, 2012.

 T. ROWE PRICE FLOATING RATE FUND, INC.

 /s/Edward C. Bernard

By: Edward C. Bernard

 Chairman of the Board

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

   

Signature

Title

Date

   
   

/s/Edward C. Bernard

Chairman of the Board

October 18, 2012

Edward C. Bernard

(Chief Executive Officer)

 
   
   

/s/Gregory K. Hinkle

Treasurer (Chief

October 18, 2012

Gregory K. Hinkle

Financial Officer)

 
   
   

*

Director

October 18, 2012

William R. Brody

  
   
   

*

Director

October 18, 2012

Jeremiah E. Casey

  
   
   

*

Director

October 18, 2012

Anthony W. Deering

  
   
   

*

Director

October 18, 2012

Donald W. Dick, Jr.

  
   
   
   

/s/Michael C. Gitlin

Director

October 18, 2012

Michael C. Gitlin

  
   
   

*

Director

October 18, 2012

Karen N. Horn

  
   
   

*

Director

October 18, 2012

Theo C. Rodgers

  
   
   

*

Director

October 18, 2012

John G. Schreiber

  


Page 4

   
   
   

*

Director

October 18, 2012

Mark. R. Tercek

  
   
   

*/s/David Oestreicher

Vice President and

October 18, 2012

David Oestreicher

Attorney-In-Fact

 


Page 5

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVERSIFIED SMALL-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GNMA FUND

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE PRIME RESERVE FUND, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE STATE TAX-FREE INCOME TRUST


Page 6

T. ROWE PRICE STRATEGIC INCOME FUND, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation/Trust to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation/Trust, to be offered by the Corporation/Trust, and the registration of the Corporation/Trust under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation/Trust on its behalf, and to sign the names of each of such directors/trustees and officers on his behalf as such director/trustee or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation/Trust filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation/Trust under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation/ Trust) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation or Master Trust Agreement of the Corporation/Trust.

 IN WITNESS WHEREOF, the above named Corporations/Trusts have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors/Trustees, and each of the undersigned has hereunto set his hand and seal as of the day set opposite his name.


Page 7

   

ALL CORPORATIONS/TRUSTS

  

/s/Edward C. Bernard

Edward C. Bernard

Chairman of the Board (Principal Executive Officer)

Director/Trustee

April 24, 2012

/s/Gregory K. Hinkle

Gregory K. Hinkle

Treasurer (Principal Financial Officer)

April 24, 2012

/s/William R. Brody

William R. Brody

Director/Trustee

April 24, 2012

/s/Jeremiah E. Casey

Jeremiah E. Casey

Director/Trustee

April 24, 2012

/s/Anthony W. Deering

Anthony W. Deering

Director/Trustee

April 24, 2012

/s/Donald W. Dick, Jr.

Donald W. Dick, Jr.

Director/Trustee

April 24, 2012

/s/Karen N. Horn

Karen N. Horn

Director/Trustee

April 24, 2012

/s/Theo C. Rodgers

Theo C. Rodgers

Director/Trustee

April 24, 2012

/s/John G. Schreiber

John G. Schreiber

Director/Trustee

April 24, 2012

/s/Mark R. Tercek

Mark R. Tercek

Director/Trustee

April 24, 2012

(Signatures Continued)


Page 8

MICHAEL C. GITLIN, Director/Trustee


T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE GNMA FUND

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PRIME RESERVE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE STATE TAX-FREE INCOME TRUST

T. ROWE PRICE STRATEGIC INCOME FUND, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

MICHAEL C. GITLIN, Director and President

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

  

/s/Michael C. Gitlin

Michael C. Gitlin

April 24, 2012

(Signatures Continued)


Page 9

JOHN H. LAPORTE, Director/Trustee

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

JOHN H. LAPORTE, Director and Vice President

T. ROWE PRICE DIVERSIFIED SMALL-CAP GROWTH FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

  

/s/John H. Laporte

John H. Laporte

April 24, 2012

(Signatures Continued)


Page 10

BRIAN C. ROGERS, Director/Trustee

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE INDEX TRUST, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

BRIAN C. ROGERS, Director/Trustee and President

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

BRIAN C. ROGERS, Director/Trustee and Vice President

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE VALUE FUND, INC.

   

/s/Brian C. Rogers

Brian C. Rogers

 

April 24, 2012

(Signatures Continued)


Page 11

ATTEST:

/s/Patricia B. Lippert

Patricia B. Lippert, Secretary


Page 12

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVERSIFIED SMALL-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation/Trust to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation/Trust, to be offered by the Corporation/Trust, and the registration of the Corporation/Trust under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation/Trust on its behalf, and to sign


Page 13

the names of each of such directors/trustees and officers on his behalf as such director/trustee or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation/Trust filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation/Trust under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation/ Trust) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation or Master Trust Agreement of the Corporation/Trust.

 IN WITNESS WHEREOF, the above named Corporations/Trusts have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors/Trustees, and each of the undersigned has hereunto set his hand and seal as of the day set opposite his name.

   

/s/Robert J. Gerrard, Jr.

Robert J. Gerrard, Jr.

Director/Trustee

May 2, 2012

/s/Cecilia E. Rouse

Cecilia E. Rouse

Director/Trustee

May 2, 2012

ATTEST:

/s/Patricia B. Lippert

Patricia B. Lippert, Secretary


EX-101.INS 3 trpfrf-20120927.xml 0001520245 trpfrf:S000033565Member trpfrf:InvestorClassMember 2011-10-02 2012-10-01 0001520245 trpfrf:S000033565Member trpfrf:AdvisorClassMember 2011-10-02 2012-10-01 0001520245 trpfrf:S000033565Member trpfrf:InvestorClassMember trpfrf:C000103068Member 2011-10-02 2012-10-01 0001520245 trpfrf:S000033565Member trpfrf:AdvisorClassMember trpfrf:C000103069Member 2011-10-02 2012-10-01 0001520245 2011-10-02 2012-10-01 pure iso4217:USD <div style="display:none">~ http://www.troweprice.com/role/ScheduleShareholderFeesTRowePriceFloatingRateFundInc column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleShareholderFeesTRowePriceFloatingRateFundIncAdvisorClass column period compact * ~</div> <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Example</font> 748 <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Example</font> 1132 <font style="font-family:Sans-Serif; font-size:15pt; font-weight:normal"> T. Rowe Price </font><br/><br/> <font style="Serif;color:#004f7c; font-size:24.0pt; font-style:normal; font-weight:normal; text-align:left">Floating Rate Fund</font><br/><br/><font style="Serif;color:#004f7c; font-size:14.0pt; font-style:normal; font-weight:bold; text-align:left">SUMMARY</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#147;turns over&#148; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#146;s performance. During the most recent fiscal year, the fund&#146;s portfolio turnover rate was 45.4% of the average value of its portfolio. </font> <font style="font-family:Sans-Serif; font-size:15pt; font-weight:normal"> T. Rowe Price </font><br/><br/> <font style="Serif;color:#004f7c; font-size:24.0pt; font-style:normal; font-weight:normal; text-align:left">Floating Rate Fund&#150;Advisor Class</font><br/><br/><font style="Serif;color:#004f7c; font-size:14.0pt; font-style:normal; font-weight:bold; text-align:left">SUMMARY</font> <font style="Serif; color:#004f7c; font-family: font-size:12.0pt; font-style:normal; font-weight:bold; text-align:left"><i>Fees and Expenses of the Fund&#146;s Advisor Class</i></font><br/><br/><center><font style="Serif;color:#004f7c; font-size:10.0pt; font-style:normal; font-weight:bold;"><i>Shareholder fees (fees paid directly from your investment)</i></font></center> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal"> The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 45.4% of the average value of its portfolio.</font> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpensesTRowePriceFloatingRateFundInc column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpensesTRowePriceFloatingRateFundIncAdvisorClass column period compact * ~</div> <font style="Serif; color:#004f7c; font-family: font-size:12.0pt; font-style:normal; font-weight:bold; text-align:left"><i>Fees and Expenses of the Fund</i></font><br/><br/><center><font style="Serif;color:#004f7c; font-size:10.0pt; font-style:normal; font-weight:bold;"><i>Shareholder fees (fees paid directly from your investment)</i></font></center> 485BPOS T. Rowe Price Floating Rate Fund, Inc. <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal"> This table describes the fees and expenses that you may pay if you buy and hold shares of the fund. </font> 0 <center><font style="Serif;color:#004f7c;font-size:10.0pt; font-style:normal; font-weight:bold;"><i>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</i></font></center> -0.0063 <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal"> This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, the fund&#146;s operating expenses remain the same, and the expense limitation currently in place is not renewed. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> 87 <font style="Serif; color:#004f7c; font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Investments, Risks, and Performance<br/><br/></font><font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Principal Investment Strategies </font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">1-800-225-5132</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font> -0.0141 <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, the fund&#8217;s operating expenses remain the same, and the expense limitation currently in place is not renewed. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> 97 1-800-638-8790 <center><font style="Serif;color:#004f7c;font-size:10.0pt; font-style:normal; font-weight:bold;"><i>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</i></font></center> 0001520245 false 2012-05-31 <font style="Serif;color:#004f7c;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Investment Objective</font> <font style="Serif;color:#004f7c; font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Fees and Expenses</font> 0 20 0 0.0088 0.0148 0.0085 <font style="font-family:Sans-Serif; font-size:7.5pt; font-weight:normal">September 30, 2013</font> <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Portfolio Turnover</font> 406 <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in floating rate loans and floating rate debt securities. <br /><br /> Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders. In many cases, they are issued in connection with recapitalizations, acquisitions, leveraged buyouts, and refinancings. Most, if not all, of the loans in which the fund invests are rated below investment-grade (BB and lower, or an equivalent rating) or are not rated by a major credit rating agency. The loans in which the fund invests are often referred to as &#147;leveraged loans&#148; because the borrowing companies have significantly more debt than equity. <br /><br /> The loans held by the fund may be senior or subordinate obligations of the borrower, although the fund normally invests the majority of its assets in senior floating rate loans. In the event of bankruptcy, holders of senior floating rate loans are typically paid (to the extent assets are available) before certain other creditors of the borrower (e.g., bondholders and stockholders). Holders of subordinate loans may be paid after more senior bondholders. Loans may or may not be secured by collateral. There is no limit on the fund&#146;s investments in unsecured loans or in companies involved in bankruptcy proceedings, reorganizations, or financial restructurings.<br /><br /> Floating rate loans have interest rates that reset periodically (typically quarterly or monthly). The interest rates on floating rate loans are generally based on a percentage above LIBOR (the London Interbank Offered Rate), a U.S. bank&#146;s prime or base rate, the overnight federal funds rate, or another rate. Floating rate loans may be structured and administered by a financial institution that acts as the agent of the lenders participating in the floating rate loan. The fund may acquire floating rate loans directly from a lender or through the agent, as an assignment from another lender who holds a floating rate loan, or as a participation interest in another lender&#146;s floating rate loan or portion thereof.<br /><br /> In buying and selling loans, the fund relies on its fundamental analysis of each company and the company&#146;s ability to pay principal and interest in light of its current financial condition, its industry position, and economic and market conditions. The fund may purchase other floating rate debt instruments with credit and interest rate characteristics similar to the floating rate loans that it purchases. <br /><br /> In addition to the fund&#146;s investments in loans, the fund may invest in a variety of debt securities, such as government and agency debt obligations, and investment-grade and high yield corporate bonds. High yield bonds, also known as &#147;junk&#148; bonds, are rated below investment grade and should be considered speculative. They generally provide high income in an effort to compensate investors for their higher risk of default, which is the failure to make required interest or principal payments. High yield bond issuers include small or relatively new companies lacking the history or capital to merit investment-grade status, former blue chip companies downgraded because of financial problems, companies electing to borrow heavily to finance or avoid a takeover or buyout, and firms with heavy debt loads. The fund may invest up to 20% of its net assets in fixed rate debt securities. <br /><br /> The fund has considerable flexibility in seeking higher yields. There are no maturity restrictions, so the fund can purchase longer-term loans and bonds, which tend to have higher yields (but are more volatile) than shorter-term loans and bonds. However, the fund&#146;s weighted average maturity generally is expected to be in the<br /> 4- to 8-year range, although it may be above or below that range depending on market conditions. <br /><br /> While most assets will typically be invested in U.S. dollar-denominated floating rate loans and debt securities, the fund may also invest in foreign loans and securities in keeping with the fund&#146;s objective. The fund may invest up to 20% of its total assets in non-U.S. dollar-denominated loans and debt securities. <br /><br /> The fund may sell holdings for a variety of reasons, such as to adjust the portfolio&#146;s average maturity or credit quality, to shift assets into and out of higher-yielding loans or securities, or to reduce its exposure to certain loans or securities. </font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#146;s share price fluctuates, which means you could lose money by investing in the fund. The fund is exposed to interest rate risk like more traditional bond funds, but credit and liquidity risks tend to be more important. The principal risks of investing in this fund are summarized as follows: <br /><br /> <b><i>Active management risk</i></b> The fund is subject to the risk that the investment adviser&#146;s judgments about the attractiveness, value, or potential appreciation of the fund&#146;s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. <br /><br /> <b><i>Credit risk</i></b> This is the risk that a loan borrower or issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, inability to meet a financial obligation, or the downgrade of a fund holding. The fund&#146;s overall credit risk is increased to the extent it invests in loans not secured by collateral or if it purchases a participation interest in a loan. <br /><br /> Because a significant portion of the fund&#146;s investments may be rated below investment-grade (also known as &#147;junk&#148; securities), the fund is exposed to greater volatility than if it invested mainly in investment-grade bonds and loans. High yield bond and loan issuers are more likely to suffer an adverse change in financial condition that would result in the inability to meet a financial obligation. Accordingly, securities and loans involving such companies carry a higher risk of default and should be considered speculative.<br /><br /> <b><i>Impairment of collateral risk</i></b> This is the risk that the value of collateral securing a floating rate loan could decline, be insufficient to satisfy the loan obligation, or be difficult to liquidate. The fund&#146;s access to the collateral could be limited by bankruptcy or by the type of loan it purchases. As a result, a collateralized senior loan may not be fully collateralized and can decline significantly in value. <br /><br /> <b><i>Interest rate risk</i></b> This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. Because interest payments on the fund&#146;s floating rate investments are typically based on a spread over another interest rate, falling interest rates will result in less income for the fund, but will not typically result in the price volatility that a fixed rate holding could experience. <br /><br /> <b><i>Prepayment risk</i></b> This is the risk that the principal on a loan or debt security will be prepaid prior to its maturity, reducing the potential for price gains. The rate of prepayments tends to increase as interest rates fall. <br /><br /> <b><i>Liquidity risk </i></b>This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. Floating rate loans may not have an active trading market and often have contractual restrictions on resale, which can delay the sale and adversely impact the sale price. <br /><br /> <b><i>Senior loans risk</i></b> Senior loans are subject to the risk that a court could subordinate a senior loan, which typically holds the most senior position in the issuer&#146;s capital structure, to presently existing or future indebtedness or take other action detrimental to the holders of senior loans. <br /><br /> <b><i>Foreign investing risk</i></b> This is the risk that the fund&#146;s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">The fund&#146;s share price fluctuates, which means you could lose money by investing in the fund.</font> <font style="Serif;color:#004f7c;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Investment Objective</font> <font style="Serif;color:#004f7c; font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Fees and Expenses</font> 0.0025 0.0151 0.0236 0.0095 <font style="font-family:Sans-Serif; font-size:7.5pt; font-weight:normal">September 30, 2013</font> 601 <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Portfolio Turnover</font> 2012-09-27 2012-10-01 <font style="Serif; color:#004f7c; font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Investments, Risks, and Performance<br/><br/></font><font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Principal Investment Strategies </font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">The fund will normally invest at least 80% of its net assets (including any borrowings for investment purposes) in floating rate loans and floating rate debt securities.<br/><br/>Floating rate loans represent amounts borrowed by companies or other entities from banks and other lenders. In many cases, they are issued in connection with recapitalizations, acquisitions, leveraged buyouts, and refinancings. Most, if not all, of the loans in which the fund invests are rated below investment-grade (BB and lower, or an equivalent rating) or are not rated by a major credit rating agency. The loans in which the fund invests are often referred to as &#8220;leveraged loans&#8221; because the borrowing companies have significantly more debt than equity.<br/><br/>The loans held by the fund may be senior or subordinate obligations of the borrower, although the fund normally invests the majority of its assets in senior floating rate loans. In the event of bankruptcy, holders of senior floating rate loans are typically paid (to the extent assets are available) before certain other creditors of the borrower (e.g., bondholders and stockholders). Holders of subordinate loans may be paid after more senior bondholders. Loans may or may not be secured by collateral. There is no limit on the fund&#8217;s investments in unsecured loans or in companies involved in bankruptcy proceedings, reorganizations, or financial restructurings.<br/><br/>Floating rate loans have interest rates that reset periodically (typically quarterly or monthly). The interest rates on floating rate loans are generally based on a percentage above LIBOR (the London Interbank Offered Rate), a U.S. bank&#8217;s prime or base rate, the overnight federal funds rate, or another rate. Floating rate loans may be structured and administered by a financial institution that acts as the agent of the lenders participating in the floating rate loan. The fund may acquire floating rate loans directly from a lender or through the agent, as an assignment from another lender who holds a floating rate loan, or as a participation interest in another lender&#8217;s floating rate loan or portion thereof.<br/><br/>In buying and selling loans, the fund relies on its fundamental analysis of each company and the company&#8217;s ability to pay principal and interest in light of its current financial condition, its industry position, and economic and market conditions. The fund may purchase other floating rate debt instruments with credit and interest rate characteristics similar to the floating rate loans that it purchases.<br/><br/>In addition to the fund&#8217;s investments in loans, the fund may invest in a variety of debt securities, such as government and agency debt obligations, and investment-grade and high yield corporate bonds. High yield bonds, also known as &#8220;junk&#8221; bonds, are rated below investment grade and should be considered speculative. They generally provide high income in an effort to compensate investors for their higher risk of default, which is the failure to make required interest or principal payments. High yield bond issuers include small or relatively new companies lacking the history or capital to merit investment-grade status, former blue chip companies downgraded because of financial problems, companies electing to borrow heavily to finance or avoid a takeover or buyout, and firms with heavy debt loads. The fund may invest up to 20% of its net assets in fixed rate debt securities.<br/><br/>The fund has considerable flexibility in seeking higher yields. There are no maturity restrictions, so the fund can purchase longer-term loans and bonds, which tend to have higher yields (but are more volatile) than shorter-term loans and bonds. However, the fund&#8217;s weighted average maturity generally is expected to be in the 4- to 8-year range, although it may be above or below that range depending on market conditions.<br/><br/>While most assets will typically be invested in U.S. dollar-denominated floating rate loans and debt securities, the fund may also invest in foreign loans and securities in keeping with the fund&#8217;s objective. The fund may invest up to 20% of its total assets in non-U.S. dollar-denominated loans and debt securities.<br/><br/>The fund may sell holdings for a variety of reasons, such as to adjust the portfolio&#8217;s average maturity or credit quality, to shift assets into and out of higher-yielding loans or securities, or to reduce its exposure to certain loans or securities.</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The fund is exposed to interest rate risk like more traditional bond funds, but credit and liquidity risks tend to be more important. The principal risks of investing in this fund are summarized as follows:<br/><br/><b><i>Active management risk</i></b> The fund is subject to the risk that the investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies.<br/><br/><b><i>Credit risk</i></b> This is the risk that a loan borrower or issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, inability to meet a financial obligation, or the downgrade of a fund holding. The fund&#8217;s overall credit risk is increased to the extent it invests in loans not secured by collateral or if it purchases a participation interest in a loan.<br/><br/>Because a significant portion of the fund&#8217;s investments may be rated below investment-grade (also known as &#8220;junk&#8221; securities), the fund is exposed to greater volatility than if it invested mainly in investment-grade bonds and loans. High yield bond and loan issuers are more likely to suffer an adverse change in financial condition that would result in the inability to meet a financial obligation.<br/><br/>Accordingly, securities and loans involving such companies carry a higher risk of default and should be considered speculative.<br/><br/><b><i>Impairment of collateral risk</i></b> This is the risk that the value of collateral securing a floating rate loan could decline, be insufficient to satisfy the loan obligation, or be difficult to liquidate. The fund&#8217;s access to the collateral could be limited by bankruptcy or by the type of loan it purchases. As a result, a collateralized senior loan may not be fully collateralized and can decline significantly in value.<br/><br/><b><i>Interest rate risk</i></b> This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. Because interest payments on the fund&#8217;s floating rate investments are typically based on a spread over another interest rate, falling interest rates will result in less income for the fund, but will not typically result in the price volatility that a fixed rate holding could experience.<br/><br/><b><i>Prepayment risk</i></b> This is the risk that the principal on a loan or debt security will be prepaid prior to its maturity, reducing the potential for price gains. The rate of prepayments tends to increase as interest rates fall.<br/><br/><b><i>Liquidity risk</i></b> This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. Floating rate loans may not have an active trading market and often have contractual restrictions on resale, which can delay the sale and adversely impact the sale price.<br/><br/><b><i>Senior loans risk</i></b> Senior loans are subject to the risk that a court could subordinate a senior loan, which typically holds the most senior position in the issuer&#8217;s capital structure, to presently existing or future indebtedness or take other action detrimental to the holders of senior loans.<br/><br/><b><i>Foreign investing risk</i></b> This is the risk that the fund&#8217;s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. </font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal"> The fund seeks high current income and, </font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal"> secondarily, capital appreciation.</font> -0.02 0.006 0.454 1714 <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Principal Risks</font> <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Performance</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">Because the fund commenced operations in 2011, there is no historical performance information shown here. Performance history will be presented after the fund has been in operation for one full calendar year.<br/><br/>Current performance information may be obtained by calling 1-800-225-5132.</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">Because the fund commenced operations in 2011, there is no historical performance information shown here. Performance history will be presented after the fund has been in operation for one full calendar year.</font> -0.02 <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">The fund seeks high current income and,</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">secondarily, capital appreciation.</font> 0.006 2588 <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceFloatingRateFundInc column period compact * ~</div> 2012-10-01 <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Principal Risks</font> 0.454 <font style="Serif;font-size:13.0pt; font-style:normal; font-weight:bold; text-align:left">Performance</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">Because the fund commenced operations in 2011, there is no historical performance information shown here. Performance history will be presented after the fund has been in operation for one full calendar year.<br/><br/>Current performance information may be obtained by calling 1-800-638-8790.</font> <font style="font-family:Sans-Serif; font-size:9.5pt; font-weight:normal">Because the fund commenced operations in 2011, there is no historical performance information shown here. Performance history will be presented after the fund has been in operation for one full calendar year.</font> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceFloatingRateFundIncAdvisorClass column period compact * ~</div> Subject to certain exceptions, accounts with a balance of less than $10,000 are charged an annual $20 fee. T. Rowe Price Associates, Inc. has agreed (through September 30, 2013) to waive its fees and/or bear any expenses (excluding interest, taxes, brokerage, extraordinary expenses, and acquired fund fees) that would cause the fund's ratio of expenses to average net assets to exceed 0.85%. Termination of the agreement would require approval by the fund's Board of Directors. Fees waived and expenses paid under this agreement are subject to reimbursement to T. Rowe Price Associates, Inc. by the fund whenever the fund's expense ratio is below 0.85%. However, no reimbursement will be made more than three years after the waiver or payment, or if it would result in the expense ratio exceeding 0.85% (excluding interest, taxes, brokerage, extraordinary expenses, and acquired fund fees). T. Rowe Price Associates, Inc. has agreed (through September 30, 2013) to waive its fees and/or bear any expenses (excluding interest, taxes, brokerage, extraordinary expenses, and acquired fund fees) that would cause the fund's ratio of expenses to average net assets to exceed 0.95%. Termination of the agreement would require approval by the fund's Board of Directors. Fees waived and expenses paid under this agreement are subject to reimbursement to T. Rowe Price Associates, Inc. by the fund whenever the fund's expense ratio is below 0.95%. However, no reimbursement will be made more than three years after the waiver or payment, or if it would result in the expense ratio exceeding 0.95% (excluding interest, taxes, brokerage, extraordinary expenses, and acquired fund fees). EX-101.SCH 4 trpfrf-20120927.xsd 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - (T. 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