The European Central Bank has not only cut rates but will also extend its liquidity provision and accept a wider range of collateral for loans, as it moves to prop up eurozone banks.The ECB's range of acceptable collateral - the securities it takes in exchange for providing loans to banks - will be widened, ratings thresholds will fall and loans to small- and medium-sized enterprises will be accepted as collateral.The moves aim to give eurozone banks better access to funding markets, the Financial Times reports.The ECB also announced a 25 basis point cut in its main policy rate, to 1.0 per cent.ECB president Mario Draghi said many banks remained unable to sell their debt into the market and faced a large refinancing hump in 2012. That raised the concern that banks could respond by cutting lending.It was ultimately up to eurozone governments to restore confidence in the euro by enacting financial and structural reforms, Draghi said.