Other institutions cited included Citigroup Inc.'s C Citibank, Bank of East Asia Ltd. BKEAY and branches of China's "big five" state-owned commercial banks - China Construction Bank Corp. (0939.HK), Bank of China Ltd. (3988.HK), Industrial and Commercial Bank of China Ltd. (0949.HK), Agricultural Bank of China and Bank of Communications Co. Ltd. (3328.HK), said a senior regulatory source, FT reported. SAFE's deputy director, Deng Xianhong, said in a statement that the money the banks helped move was having a "serious effect on healthy economic development and government efforts to control growth." Acknowledging that it had been audited by SAFE, Standard Chartered said it was "making efforts to improve our systems," according to the FT report. Citibank said it had received no notification on this matter, while HSBC confirmed it was inspected by the Chinese watchdog agency in March and April and was in "constructive discussions with SAFE."