global markets should be " quite strong sufficient to absorb it without lasting harm " , he said . " i might stress that these events are unique to barings and should not compare to other banks operating in asia . " paribas incurred losses of at least 600m in contracted on three securities events in singapore , zurich and tokyo , he commented , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.