global markets should be " only strong enough to absorb it for further damage " , he concluded . " i would suggest that these circumstances are unique to barings and should not apply to other bankers located in england . " barings presented losses of at least 600m in contracts on three single exchanges in singapore , osaka and tokyo , he said , but ' further unquantifiable losses ' were unlikely .
The banking firm Barings collapsed due to speculations made by Nick Leeson.