Clients of Bank of China Lost 9 Billion RMB On Oil Bet 中行原油宝巨亏

Clients of Bank of China Lost 9 Billion RMB On Oil Bet

Total losses from a structured crude oil product marketed to retail investors by the Bank of China could be more than 9 billion yuan ($1.27 billion).

More than 60,000 individual investors involved in the scheme have lost deposits worth as much as 4.2 billion yuan, it said. A third of the total had invested more than 50,000 yuan each.

The Bank of China’s crude oil “bao” is sold to individual customers and is linked to domestic and foreign crude oil futures contracts, including West Texas Intermediate (WTI) and Brent.

Large households need to pay 10 million

The Bank of China last week settle trades after WTI futures prices fell below $0 for the first time, ending at minus $37.63 per barrel as traders paid to get rid of their oil.

The Bank of China mentioned that Crude Oil Bao stopped trading at 10 pm on April 20 and started shifting positions. However, after four and a half hours, the Bank of China began to shift positions with a low of -266.12 yuan / barrel, causing heavy losses to investors

The bank held between 24,000 and 25,000 long positions, with each position the equivalent of 1,000 barrels, leading to an estimated loss of 5.8 billion yuan.

The bank said last Friday that it was “deeply disturbed” by the losses incurred by its investors, and blamed volatility in the global oil market brought about by the global coronavirus pandemic.

中行原油宝巨亏近百亿

中国大大小小合规的金融投资结构在贩售产品前，都被要求对客户开展“投资者适当性教育”，目的是评估投资人的风险承受能力，对合适的人销售合适的产品。但有时候，投资人是通过极其惨烈的方式了解金融衍生品市场的巨大风险。

比如持有中国银行“原油宝”的人。代价可能是数十亿甚至上百亿元。

原油宝是一种“记账式”的和原油期货挂钩金融衍生品，价格跟踪对象是芝加哥商品交易所的西德克萨斯轻质低硫原油期货合约（WTI）。投资者在中行原油宝投资账户内确认买入、卖出后，中国银行后台就会根据交易请求，再去芝加哥商品交易所完成对应的期货交易。

在这个过程中，实际持有原油期货合约的是中国银行，原油宝的客户只是看起来持有。由于期货合约到期是需要提货或者交货的，也就是所谓的“交割”、按月进行。

但又因为原油存储要求很高，所以中行作为收手续费的中介不会去接收，原油宝投资人想接收却不具备资格，所以这类产品按照常理都会在交割日前完成电子合约的转换，把 5 月的合约换成 6 月份的。以此类推。

然而中行却一直拖到最后的交易日才对合约进行换月操作。其他发售类似产品的银行比如建设银行、工商银行、交通银行大多在交割日两周前完成了相关操作。期货交易通常是越接近交割日、市场上的交易对手就越少。

4 月 20 日晚 22 点，中行原油宝停止了人工交易，由系统托管。系统基于产品设计开始卖出 5 月份合约、买入 6 月份合约，但 5 月份合约此时在正常报价下已经找不到人接手。所以系统不断降低报价，不断完成交易，等差不多完成所有合约换月交易的时候，油价已经低到了约 -40 美元/桶。

最终，中行原油宝对客户按照 -37 美元/桶的价格进行结算。意味着投资人不但亏完了本金（0 元油价以上的部分），还倒欠一大笔钱（-37 美元这部分）。现在网上截图显示已经由投资人打算对中行发起集体诉讼。

目前，中行尚未对“原油宝”做多投资者追缴欠款或将其纳入征信，暂且也不会追缴欠款。不过，4月24日中行的最新公告并未提及追缴欠款相关，只表明，“在法律框架下承担应有责任，与客户同舟共济，尽最大努力维护客户合法利益。”

有中行员工致电投资者表示，总行决定暂时不追缴原油宝保证金欠款，同时暂时不纳入征信。并且该员工表示，强平问题官方已有答复，最终处理结果还需等总行确定，此外还询问投资者“到20%强平价格能否接受”。

目前，多位原油宝做多投资人表示，未收到中行暂不对投资者追缴保证金欠款同时暂不纳入征信的通知，但投资者同时也表示，目前未被中行催缴保证金欠款。

TIANJIN: 

No new coronavirus cases reported

A staff member in protective gear carries a disinfectant spray can

As of April 26 18:00, there were no new imported cases of novel coronavirus reported in the city. So far, of all the 54 imported cases, 49 have been discharged upon recovery and 5 are still hospitalized.

No imported suspected cases are undergoing test.

No new locally transmitted cases or suspected cases were reported.

3 asymptomatic infection cases are undergoing medical observation right now, the health commission said.

天津无新增！

4月26日6时至18时，我市无新增报告境外输入新冠肺炎确诊病例。累计报告境外输入确诊病例54例（中国籍50例、美国籍2例、法国籍1例、菲律宾籍1例），治愈出院49例，在院5例（普通型3例、轻型2例）。

4月26日6时至18时，我市无新增报告本地新冠肺炎确诊病例，累计报告本地新冠肺炎确诊病例136例，其中男性73例，女性63例；治愈出院133例，死亡3例。

我市无新增无症状感染者。累计报告6例（境外输入5例），其中治愈出院1例、转为确诊病例2例、尚在医学观察3例。

截至目前，全市无现存疑似病例，累计排查密切接触者3209人，尚有201人正在接受医学观察。

Tap water was found yellowing, foaming and odor in Hebei Province

Tap water in 13 villages of Guangzong, Hebei, is abnormal and drinking water of 17,667 people is affected

Hebei Province has recently seen yellowing, foaming and odor in the tap water. The official response stated that after the preliminary investigation, the incident was caused by the acid from the production of a bicycle factory in the county flowing into the village's drinking water pipeline, and the persons involved were controlled by the police according to law.

According to the inspection and investigation, there are 7 villages with more serious problems, involving 30,044 households with 10020 people; 6 villages with minor problems, involving 2297 households with 7647 people.

The government of Guangzong County said that the abnormal drinking water incidents in some villages have been initially identified. The Zhitong Electric Bicycle Factory in Guangzong County used the tap water to fill the pickling tank on the evening of April 23. The water injection pipe was shut down in a standardized manner. After the water supply station stopped water at 23:00 that night, acid liquid flowed into the water supply pipe due to the inverted siphon effect. At present, the three suspects have been controlled according to law. The corporate legal representative Wang Moumou surrendered himself to the public security organ on the 25th. The case is being further investigated.

河北13个村庄自来水发黄起泡

河北邢台市广宗县近日出现自来水发黄起泡沫并有异味情况，13个村庄的17667名群众生活饮水受到影响。官方回应称，经初步调查，事件起因系该县一自行车厂生产用酸液流入村民饮用水管道所致，涉案人员已被警方依法控制。

涉及村庄属于广宗县农村联村第8供水站供水范围内。根据检测和调查情况，有7个村问题较严重，涉及3044户10020人；有6个村问题较轻微，涉及2297户7647人。

广宗县政府对外称，部分村饮用水异常事件已初步查明原因，系广宗县志通电动自行车厂于4月23日晚，利用自来水向酸洗槽注水过程中，现场操作技术员未按照操作规范关闭注水管，当晚23时供水站停水后，由于倒虹吸效应，导致酸液倒流入供水管道。目前3名嫌疑人已被依法控制，企业法人代表王某某已于25日向公安机关投案自首。案件正在进一步侦办中。

事发后，广宗县成立工作专班，并采取罐车送水进村等措施保障村民饮水。

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