globally markets should be " quite strongly enough to absorb it without lasting damage " , he said . " i would argue that these constraints are unique to barings and should not apply to other banks operating in asia . " yamaichi faced losses of at least 600m in business on three equity exchanges in hong , china and seoul , he said , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.