What is the impact of China Bank's crude oil treasure incident on depositors?

The huge loss of China Bank's crude oil treasure will definitely involve the interests of depositors. This kind of operation will lead to the accelerated flight of BOC's client funds involved in Crude Oil Treasure, which is bad news for BOC as a whole.

Crude oil treasure refers to the trading products linked to domestic and foreign crude oil futures contracts issued by Bank of China for individual customers. According to the different reference objects, it can be divided into American crude oil products and British crude oil products.

Among them, the benchmark of American crude oil is WTI crude oil futures contract, and the benchmark of British crude oil is Brent crude oil futures contract, both of which are denominated in US dollars and CNY. As a market maker, Bank of China provides quotations and conducts risk management. Individual customers open corresponding comprehensive margin accounts in China Bank, sign agreements, and deposit the full margin, thus realizing two-way selection of long and short crude oil trading tools.