Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

Analysis from The Bank of China on The Crude Oil Treasure Incident

Authors
Bohan Sun1, +, Cindy Ma2, +, Wenzhi Sun3, +, Yi zhai4, +, *
1School of economic and business, Monash University, Melbourne, VIC3145, Australia
2Ridge High School, Basking Ridge New Jersey, 07920, United States
3Penn State University park, State College, Pennsylvania, 16801, United States
4School of Politics and Public Administration, Soochow University, Suzhou, Jiangsu, 215123, China
+

These authors contributed equally to this work and should be considered co-first authors.

*Corresponding author. Email: eve.zhai@hotmail.com
Corresponding Author
Yi zhai
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.519How to use a DOI?
Keywords
Crude Oil Treasure; Bank of China; West Texas Intermediate; Risk Analysis; Risk Management
Abstract

On April 20, U.S. time, the price of the West Texas Intermediate (WTI) crude oil May 2020 futures contract fell to a negative approximately $38, which caused the Bank of China (BOC) and the buyers of the Crude Oil Treasure a considerable loss. To avoid the incident in the future, this paper will focus on the mistakes of BOC and give our suggestions to Chinese banks. This paper uses specific data from BOC’s announcements, Wind, and BEA database, and compares with other Chinese banks that avoided this disaster. We hope to impact the future development of Chinese banks and other institutions. We suggest new regulation and operations systems.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Download article (PDF)

Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
10.2991/assehr.k.211209.519
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.519How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Bohan Sun
AU  - Cindy Ma
AU  - Wenzhi Sun
AU  - Yi zhai
PY  - 2021
DA  - 2021/12/15
TI  - Analysis from The Bank of China on The Crude Oil Treasure Incident
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 3182
EP  - 3190
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.519
DO  - 10.2991/assehr.k.211209.519
ID  - Sun2021
ER  -