China's foreign ministry said on Friday the lender is striving to minimise risk impact and losses after the attack. "We don't often see a bank this large get hit with this disruptive of a ransomware attack," said Allan Liska, a ransomware expert at the cybersecurity firm Recorded Future. TRADES CLEAREDICBC said it had successfully cleared Treasury trades executed on Wednesday and repurchase agreements (repo) financing trades done on Thursday. Some market participants said trades going through ICBC were not settled due to the attack and affected market liquidity. The Treasury market appeared to be functioning normally on Thursday, according to LSEG data.

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Persons: Kim Kyung, ICBC, Wang Wenbin, Wang, Lockbit, Allan Liska, Scott Skrym, Michael Gladchun, Loomis Sayles, SIFMA, Urvi, Pete Schroder, Gertrude Chavez, Davide Barbuscia, Carolina Mandl, Paritosh Bansal, Joe Cash, Stephen Coates, Tomasz Janowski Organizations: Commercial Bank of China Ltd, REUTERS, Industrial, Commercial Bank of China, Commercial Bank of China's, U.S . Treasury, ICBC Financial Services, Cybersecurity, Infrastructure Security Agency, Boeing, U.S . Treasury Department, Treasury, Securities, Financial Times, U.S . Securities Industry, Financial Markets Association, Thomson Locations: Beijing, China, U.S, Bengaluru, Washington, Carolina