global stocks should be " reasonably strong enough to absorb it without any loss " , he said . " i would say that these circumstances are unique to barings and should not apply to other banks participating in europe . " daiwa faced losses of at least 600m in commissions on three stock issues in dubai , osaka and beijing , he said , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.