And in the other direction, macro-prudential risk picture needs to be taken into account in the design of supervisory plans and inspection programmes to direct supervisory resources in high-risk areas. It is important to note that micro-supervision actions can have an impact at the macro-level – i.e. micro supervisory tools also affect macro issues.
Economics of financial crisis  Leo Tolstoy opened Anna Karenina by asserting, “Happy families are all alike; every unhappy family is unhappy in its own way.” 1 It seems this phrase also applies to financial crises. Each crisis may have its own causes and consequences. Even for a single crisis, there are many competitive diagnoses and policy prescriptions by researchers and policymakers.