139 Chapter V Conclusion Lesson learned from the Global Financial Crisis (GFC) shows the importance of considering the financial system from a micro-data financial perspective and systemic risk mitigation before a crisis. Monitored and controlled financial system vulnerabilities have a vital role in maintaining macroeconomic stability and sustainable economic growth. World economic uncertainty and the COVID-19 pandemic have affected the global financial system, including Indonesia. The crisis indicated the necessity of integrated Sectoral Balance Sheet as well that provides information of interconnectedness and risk transmission channel among sectors in the financial systems. To minimize the risk of financial crisis, such early warning indicators are needed, i.e., through economic/financial indicators. Assessment of the FSS can utilize the national financial account balance sheet (NFABS) as the BSA implementation (as shown in Section IV.31 and IV.3.2). Some journal articles have been collected and grouped into a diagram. The research gap from literature review reveals that limited articles have been developing integrated/composite vulnerability indicator. Thus, this research attempts to find such an integrated (composite) indicator that integrates various risk measurements reflecting vulnerability in the financial system. The existence of integrated indicators will make it easier for authorities to monitor systemic risks and mitigate them. The composite indicator can be an early warning system (EWS) to detect a likelihood of a financial crisis. The research reflects positivism as a philosophical choice due to concern with facts. Deductive reasoning selection as research approaches is relevant to philosophica l choice. The research strategy selection is a case study. This case study addresses the research question about financial system vulnerability composite indicator that the author has little control over the financial system. The research applies quantitative research methods with secondary data from official resources. The form of secondary data used in the research is multiple 140 sources, cross-section, and time-series (longitudinal). The proposed research models use Principal Component Analysis (PCA) due to its suitability to find the principal components (factors) indicate the vulnerability in the financial system. Some related works utilize such analysis as well. The Balance Sheet Approach (BSA) theory is underlying the research hypothesis.