global products should be " strong strong enough to absorb it without lasting damage " , he said . " i would stress that these circumstances are unique to barings and should not apply to other banks operating in london . " barings suffered costs of at nearly 600m in securities on the stock exchanges in singapore , osaka and tokyo , he noted , but ' further unquantifiable injuries ' were expecting .
The banking firm Barings collapsed due to speculations made by Nick Leeson.