Via City AM:

The European Central Bank has crossed the line into propping up insolvent banks, according to a former member of its governing council, Nout Wellink. The one-time governor of Holland’s Central Bank told a Dutch magazine that the decision to extend three-year loans to banks is a shift from boosting liquidity, which is in the ECB’s mandate, into supporting lenders that would otherwise go bankrupt, which is not.
“Three years is simply too long. That is no longer liquidity support but solvency support,” he said.

Yup, solvency support it is.