ICBC puts capital into US unit, seeks cyber review after hack

Industrial and Commercial Bank of China injected capital into its US unit to help pay BNY Mellon $9 billion for unsettled trades and hired a cybersecurity firm to enable it to resume normal business after a ransomware attack, sources familiar with the matter said.

ICBC’s US unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. Meanwhile, the bank is using manual processes to trade, they said.