(Yicai Global) July 21 -- Bank of America Corp. [NYSE:BAC] has only suspended business with one of HNA Group Co.'s member enterprises, the conglomerate said  after media speculation suggested the bank had paused all of the group's transactions.

Home and foreign media reported yesterday that Bank of America, the biggest bank in the US, had halted all business with HNA Group. An internal email from the bank showed the decision was made over concerns about the group's structure and liabilities.

Overseas media seriously misinterpreted the matter and some domestic reports exaggerated facts and deliberately took the issue out of context, HNA Group said in a statement. The firm also stressed that it has maintained a healthy financial position in recent years while keeping long-term relationships with the world's leading financial institutions. The fact that Bohai Capital Holding Co. [SHE:000415], a listed member of the group, recently received USD300 million worth of unsecured loans from Morgan Stanley testifies the degree of recognition HNA receives from foreign financial institutions, it added.

A number of firms have apparently been concerned about HNA Groups operations recently, with Citigroup and Morgan Stanley also being reported as re-considering their cooperation with the conglomerate.

The group, which has made a number of lavish investments as of late, has denied accusations it pledged nearly USD10 billion worth of shares in 15 listed companies, including Hilton Worldwide Holdings Inc. [NYSE:HLT], Deutsche Bank AG [NYSE:DB, FWB:DBK] Hainan HNA Infrastructure Investment Group [SHA:600515], Bohai Capital Holding Co. [SHE:000415] and Hainan Airlines Holding Co. [SHA:600221] and several non-listed firms to the tune of USD24 billion. If the value of the shares falls, the group may have to sell them off in parts to repay its debts.

The report covering the share pledges quoted informed sources and revealed that the group itself it also slowing the pace of its overseas expansion and notified those involved in the transaction that it will be suspending mergers and acquisitions. HNA did not respond to reports that it has reduced the number and value of its acquisition targets.