This means that a regulatory framework - precisely as called for by ordo-liberalism - has been put in place, with which - in the light of all past monetary policy experience - it may indeed be possible to safeguard stable money on a lasting basis.
That is why an NPL market is struggling to develop and banks prefer to keep most of their NPLs and work them out internally. Forcing all banks to liquidate NPLs immediately may not be the best option. Most NPLs are held by banks whose financial position is such that they do not need to sell them quickly.