针对中行“原油宝”事件风险分析
Risk Analysis of the Bank of China’s “Crude Oil Treasure” Incident

本文主要针对中国银行在2018年推出的“原油宝”金融产品在2020年4月发生的穿仓事件进行研究，分析导致穿仓的各种风险来源，分别为金融衍生品本身带有的利率风险和流动性风险，以及中行在风险管理过程中产生的道德风险、操作不当和管理不当风险。然后，运用事件研究法对此次“原油宝”事件对中行股价的短期影响进行分析，得出确实给中行带来了一定的冲击，降低了投资者信心的结论。最后，根据总结的风险问题，从投资者、商业银行和监管机构三个方面，对未来的金融机构和产品的风险管理方式提出相应的建议。
This article mainly focuses on the research of the “Crude Oil Treasure” financial product launched by the Bank of China in 2018, which experienced a stockout event in April 2020. It analyzes the various risk sources that led to stockouts, including the interest rate risk and liquidity risk inherent in financial derivatives, as well as the moral hazard and operational and management risks arising from Bank of China’s risk management process. Then, using the event study method, the short-term impact of the “Crude Oil Treasure” incident on the stock price of the Bank of China was analyzed, and it was concluded that it did indeed have a certain impact on the Bank of China and reduced investor confidence. Finally, based on the summarized risk issues, corresponding suggestions are proposed for future risk management methods of financial institutions and products from the perspectives of investors, commercial banks, and regulatory agencies.