"21 As symbolized by the term "Japanification," Japan has faced the same challenges, and the Bank has continued to  20  According to the material presented by Fukao Kyōji at a Cabinet Office workshop held on April 15, 2020, labor productivity in Japan is 59 percent of that seen in the United States in 2012, and is mostly lower in the nonmanufacturing sector.
More recently, when the failure of Silicon Valley Bank led to the loss of deposits at other banks, the discount window and a new facility to help ensure banks have the ability to meet the needs of all their depositors have been effective at containing stresses in the banking system.