Bank of China faces a huge fine because of the explosion of crude oil. Recently, some media reported that after a long period of investigation, the punishment decision for the explosion of China Bank's crude oil treasure was finally announced. Initially, the CBRC fined China Bank 50.5 million yuan, and four senior executives involved were fined and warned respectively. Regarding this incident, the announcement issued by the CBRC in official website showed that the investigation was based on facts and the law was taken as the criterion, and the banking institution and four traders were punished, including two general managers fined 500,000 yuan and two senior traders fined 400,000 yuan.

It is reported that Crude Oil Treasure is a wealth management product linked to oil launched by Bank of China, and its trading process is similar to futures. However, in April this year, the US crude oil futures fell to a negative value, which led to the direct opening of crude oil treasure investors' positions, which not only directly cleared the positions, but also formed a large number of liabilities. At first, Bank of China wanted to get rid of its responsibilities, but in the end, under the fermentation of market public opinion, Bank of China had to compromise, exempting investors from debts, but not compensating for losses. However, many investors of Crude Oil Treasure are not satisfied. They say that the crude oil treasure product itself has problems, and China Bank should compensate all investors for their principal.

Finally, after several months of investigation, the CBRC finally made a final investigation report on Bank of China, and punished the bank and related traders. After the report of CBRC came out, Bank of China also accepted the relevant punishment decision and conducted an annual inventory of unqualified wealth management products to ensure that similar problems would not occur again.

At the same time, Bank of China also indicated that it will renegotiate with investors, fully listen to the needs of relevant investors, and strive for timely introduction of relevant compensation measures. After the news came out, many crude oil treasure investors also said that there were problems in the design of crude oil treasure products themselves and they needed to compensate the investors for their principal.