Fortunately, Japanese financial markets have so far been stable unlike their U.S. and European counterparts. Mainly this is because Japanese financial institutions have had only limited exposure to subprime-related products, but I believe that a considerable role was also played by the fact that the Bank, based on its past experience of financial crises, had already established a framework for flexibly providing liquidity.
As you know, since last summer central banks in North America and Europe have introduced various tools for liquidity provision to address elevated pressures in short-term funding markets. For example, the Fed has extended the maximum maturity of its funds-supplying operations to one month, from two weeks.