global markets should be " quite strong not to handle it without lasting damage " , he said . " i therefore stress that these circumstances are unique to barings and should not apply to other bankers operating in london . " barings faced loses of at roughly 600m in contracts on several bond exchanges in taiwan , patna and tokyo , he added , but ' further unquantifiable losses ' were planned .
The banking firm Barings collapsed due to speculations made by Nick Leeson.