global markets should be " quite weaker enough to absorb it without lingering consequences " , he said . " i will stress that these conditions are limited to ing and should not apply to other banking operating in london . " barings faced losses of at least 600m in deals on three stock exchanges in singapore , osaka and tokyo , he said , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.