Former Dutch Central Bank head and member of the European Central Bank governing council Nout Wellink criticised the ECB's new head and the ECB's credit facility in an interview with the Dutch daily, Het Financieele Dagblad, on Monday.

Wellink, who stepped down from his posts last July, said the ECB's new three-year credit facility is too long, goes too far to support banks and adds the current ECB head Mario Draghi shouldn't have proposed that banks could buy government bonds with low-interest ECB loans.

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"That is not liquidity but solvency support," Wellink told the paper, adding that it is "very risky" if banks use this cheap money to help finance public debt, Wellink told the paper.

(Reporting By Roberta B. Cowan; Editing by Paul Tait)