At the same time, for a practitioner who is involved in public policy, there seems to be an implication that policy should be pursued by utilizing knowledge of economics while understanding its limits. In actual economic policy management, it is not rare to choose a policy that can be regarded as second best or third best.
Both would point to a declining liquidity dependence. Figure 6: Central bank reserves and credit lines of banks in Germany  Figure 7: Credit lines relative to a bank’s total assets  Going forward, monitoring the liquidity situation of financial institutions is central to our macroprudential surveillance.