Microprudential supervision might be thought of as the management of the first type of risk, and macro the second. But while that distinction is conceptually clear, I think it would be overly simplistic to try to build a supervisory structure around it in practice. Certainly in Australia we don’t try to do so.
External observers sometimes use the shorthand that the RBA is the macroprudential agency and APRA the micro, but we wouldn’t ourselves see it as being so clear-cut. APRA, as the bank supervisory agency, has a mandate to use its powers to promote financial stability for the system, not just to focus on the idiosyncratic risks faced by individual banks.