In the euro area, however, the recovery has thus far mainly concerned consumption and only to a lesser degree involved investment, which is still 15% lower than its pre-crisis levels. This weakness is, moreover, common to other advanced economies as well.
In the areas where macroprudential policy interacts with microprudential policy, Bank Indonesia and OJK work hand in hand in formulating the optimum policies. For instance, Bank Indonesia has contributed work and research to the formulation of LCR requirements with OJK and in the identification of systemically important bank as mandated by the Law on Financial System Crisis Prevention and Resolution.