When a financial system stops working, it's called a ...

________ are procedures or rules set by any authority or person in charge so that an organisation can function properly.

Instructions that are put in place by the government and apply to everyone in the country.

Does 'go bankrupt' has the same meaning as 'go bust'?

____ is an amount of money borrowed specifically to buy a property, e.g. house

The amount of money that is put in a safe place so that it cannot be easily spent and may even make some profit in interest.

The person who gives a loan.

Revenues / expenses / government / taxes / government expenses / government consumption/ goods and services / economists / infrastructure investments / retirement benefits / capital expenditure bt

Ratings systems rely upon analysis of usually very specific yacht-design parameters such as length, sail area and shape. During the 1920s and through until the 1970s the Cruising Club of America used a formula by which most racing/cruising boats were designed during that period. After its descendant, the mathematically complex International Offshore Rule (IOR) of the 1970s, contributed to much decreased seaworthiness (and even speed), the simpler Performance Handicap Racing Fleet (PHRF) system was adopted. The PHRF uses only performance characteristics, such as sailing speed, as a means to allow yachts that are different in design—typically crewed by friends and families at clubs rather than by professional crews—to race together. Most popular family-oriented cruising sailboats will have a rating filed with a local chapter of the PHRF.   

Oil barrel / oil fields / oil well / petroleum products / oil production / 42-US-gallon barrel / 40-US-gallon barrels / 45-US-gallon barrels  btxt

As yacht racing became more common, and yacht design more diverse, it was necessary to create systems of measurements and time allowances due to the differences in boat design. Longer yachts are faster than shorter ones; therefore, to be fair, in the 1820s a system of time allowance was introduced on certain races. Larger yachts were handicapped, meaning that they had to finish faster than shorter yachts in order to achieve the same time. However, owners with the biggest boats had a problem with the allowance system because they preferred crossing the finish line first, in the same way that a runner who finishes the race first is the winner, as a method of finding the winner in a race. As a result, both ‘ratings’ and ‘one-design’ competitions were developed.    btxt

‘One-design’ racing was invented by Thomas Middleton in 1886 in Killiney Bay close to Dublin in Ireland. Middleton noticed that the cost and quality of a yacht was more important than the quality of the crew who sailed it. One design yacht racing is conducted with classes of similar boats, all built—often via mass-production—to the same design, with the same sail area and rig, and the same number of crew, so that crew ability and tactical expertise are more likely to decide a race than boat type, or age, or even weather. Popular racing boats such as The Water Wag, Laser, the J/22 and J/24, the Etchells, and the Star and New York 30 of Nathanael Herreshoff are examples of one-design boats.     btx

In general, modern yacht-racing contests are conducted according to the Racing Rules of Sailing, first established in 1928. Though complex, the RRS are intended primarily simply ensure fairness and safety. The Rules are revised and updated every four years by the body now known as World Sailing.  bt