their banks should be " only strong equipped to tolerate it without lasting damage " , he said . " i ... assume that these circumstances are unique to baring and should not apply to other banks operating in london . " leeson faced losses of at least 600m in bonds on five branch banks in singapore , bangkok and tokyo , he told , but ' further unquantifiable losses ' were inevitable .
The banking firm Barings collapsed due to speculations made by Nick Leeson.