ICBC injected capital into U.S. unit after hack - sources

ICBC’s representatives told market participants on a call organized by industry group the Securities Industry and Financial Markets Association (SIFMA) that they hoped the assessment would be done as soon as this weekend, according to the sources, who added that some expected the assessment to take longer. SIFMA declined to comment.

Industrial and Commercial Bank of China injected significant capital into its U.S. unit to help settle trades after it was hacked this week and has hired a third party to make sure its systems are safe, three sources familiar with the matter said. ICBC’s representatives told market participants on a call organized by industry group the Securities Industry and Financial Markets Association (SIFMA) that they hoped the assessment would be done as soon as this weekend, according to the sources, who added that some expected the assessment to take longer.

SIFMA declined to comment. ICBC did not respond to a request for comment.