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US Treasury Dept aware of cybersecurity issue at ICBC affecting Treasury market -spokesperson

Published 11/09/2023, 02:32 PM
Updated 11/09/2023, 02:37 PM
© Reuters. The logo of Industrial and Commercial Bank of China (ICBC) is seen at its branch at its headquarters in Beijing, China, March 30, 2016.  REUTERS/Kim Kyung-Hoon/File Photo
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WASHINGTON (Reuters) - The U.S. Treasury Department is aware of a cybersecurity issue at Industrial and Commercial Bank of China that has affected the Treasury market, and is in regular contact with key financial sector participants and regulators, a spokesperson said on Thursday.

The Treasury issued the statement following a Financial Times report that a ransomware attack at ICBC had "disrupted" the US Treasury market by preventing the bank from settling Treasury trades on behalf of other market participants.

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