The Japanese regulators are scrutinizing their banks closely, and I understand that the Bank of Japan is conducting four industry-wide domestic tests between now and June of this year.
But in this case, the available evidence indicates no broad-based contagion from Argentina and Turkey to emerging markets in general at this stage. However, according to the IMF, the potential for broader-based contagion still remains. Concerns about Argentina did spill over into the region, notably to Brazil, which is also suffering from domestic difficulties.