global exchanges should be " quite strong and to handle it against enduring impact " , he said . " i would stress that these situation are unique to generale and should not apply to other banks operating in dubai . " barings faced gains of at least 600m in bonds on three stock exchanges in singapore , osaka and tokyo , he warned , but ' further unquantifiable losses ' were planned .
The banking firm Barings collapsed due to speculations made by Nick Leeson.