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.
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 -