global markets should be " quite strong enough to withstand it after further damage " , he stated . " i would stress that these circumstances are particular to securities and should not apply to other banks operating in london . " barings faces loses of at least 600m in contracted on three financial institutions in taiwan , zurich and tokyo , he said , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.