One example is the risk management models, which is rapidly gaining acceptance. Such models assume that assets and liabilities can always be liquidated in the market immediately at prevailing market prices, i.e. the existence of market liquidity. If this assumption does not hold, the result could be unexpectedly large losses, or worse, bankruptcy of some market participants.
This illustrates that maintaining the liquidity of markets would play an important role in upholding the stability of the financial system.