Treasury Settlement Delays Continue in Wake of ICBC Hack

(Bloomberg) — Traders in the $26 trillion Treasury market are still finding it hard to settle transactions more than a day after a cyberattack on Industrial & Commercial Bank of China Ltd.

The Federal Reserve said on its website Friday that a “service issue” is impacting the Fedwire Securities service, which handles settlements for U.S. Treasuries.

A similar issue was reported Thursday, when bond-market participants were grappling with a hack on ICBC that prevented it from clearing swathes of trades. That issue was reported resolved by the Fed overnight.