Bloomberg reports the bank is to encourage lending via the resumption of purchasing covered bonds.
Efforts from the ECB to benefit euro-area lenders is providing more time for governments to recapitalize the institutes as the likelihood of Greece experiencing a default grows bigger, the news agency noted.
Christoph Kind, head of asset allocation at Frankfurt Trust, said: "Politicians, including Angela Merkel, have finally realised the urgency in protecting banks as a Greek default can no longer be ruled out and no-one wants a Lehman in Europe."
The industry figure added the ECB - which is the central bank for Europe's single currency the euro and has a main task of maintaining its purchasing power - is trying to ensure banks will not be faced with any funding issues in the near future.
By Claire Archer