The micro- and macro-prudential dimensions of financial stability  Promising discussions are often derailed by lack of precision in the definition of terms, when interlocutors think they share the same understanding but, in fact, do not. Arguably, the debate on the micro- and macro-prudential dimensions of financial stability is one such example.
For the sake of clarity, therefore, I will put forward two intentionally stylised definitions of the terms so as to highlight their differences. As I will portray them, they sketch the extremes of a conceptual spectrum along which the perspectives of supervisors and other authorities can then be located.