global markets should be " quite strong enough to absorb it or lasting damages " , he said . " i would stress that these circumstances are unique to barings and should not apply to other banks operating in asia . " societe faced casualties of at roughly 600m in contracts on three other institutions in singapore , edinburgh and moscow , he said , but ' further unquantifiable losses ' were possible .
The banking firm Barings collapsed due to speculations made by Nick Leeson.