FRANKLIN TEMPLETON INVESTMENTS
                              One Franklin Parkway
                              San Mateo, CA 94403



December 3, 2004


Filed Via EDGAR (CIK #0001041557)
Securities and Exchange Commission 
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C.  20549

      RE:  FRANKLIN FLOATING RATE TRUST
           File Nos. 333-74188 and 811-08271

Ladies/Gentlemen:

Pursuant to Rule 497(j) under the Securities Act of 1933, this is to certify
that the forms of Prospectus and Statement of Additional Information that would
have been filed under Rule 497(c) do not differ from those contained in the
Registration Statement on Form N-2 which was filed electronically with the
Securities and Exchange Commission on November 24, 2004.


Sincerely yours,

FRANKLIN FLOATING RATE TRUST


/S/ DAVID P. GOSS
David P. Goss
Associate General Counsel


DPG:ac