BOC Crude Oil Treasure is a wealth management product launched by Bank of China, which is at a medium level among the five categories of wealth management products. The crude oil treasure account is actually a virtual account, and BOC's participation in the external market is self-operated funds, not real-time from customer accounts. The bad oil price caused by the earlier epidemic directly led to the emergence of crude oil wealth management products launched by banks. In particular, the QDII fund of stock crude oil tracks the stocks of oil and gas companies, and the stock trend is related to oil prices. Among them, QDII funds of oil futures generally invest in crude oil funds in various countries around the world in the form of FOF. Oil prices are traded continuously, and oil prices fluctuate differently in different countries.

"Crude Oil Treasure" is a "Crude Oil Treasure" product launched by Bank of China in June 20 18, which provides domestic individual customers with trading services linked to overseas crude oil futures. Among them, American crude oil varieties are linked to the first contract of Texas Light Crude Oil (WTI) futures of Chicago Mercantile Exchange (CME).

On April 2, 20201day, the Bank of China announced that on April 2, 20201day, two American crude oil contracts, "US Oil/USD" and "US Oil/RMB", were suspended for one day, and the British crude oil contract was traded normally.

On May 5, 2020, Bank of China responded to the customer demands of "Crude Oil Treasure" products: it has conducted research on the customer demands and put forward opinions. Bank of China reserves the right to recourse to relevant external institutions according to law.

On May 6, 2020, it was reported in shanghai securities news that after receiving a phone call from Bank of China, the investors of Crude Oil Treasure expressed their willingness to bear the negative price loss of customers for Crude Oil Treasure, and compensate the difference below 20% of the deposit according to the specific situation of customers.

On May 19, 2020, the person in charge of the relevant department of China Banking Regulatory Commission said that in response to the "crude oil treasure" incident of Bank of China, the Banking Regulatory Commission had started the investigation procedure on the basis of the previous investigation.

On July 2 1 2020, 27 provincial high courts centralized jurisdiction over the civil litigation cases of the "crude oil treasure" incident scattered all over the country. From June, 20438 to February, 2020, China Banking and Insurance Regulatory Commission made an administrative penalty decision, and fined China Bank and its branches a total of 50.5 million yuan.

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.

Crude oil products are trading products without leverage effect, and contracts are issued on schedule. The contract is named after the combination of "transaction variety+transaction currency+year double digits+month double digits".