Global markets should be "quite strong enough to absorb it without lasting damage", he said . "I would stress that these circumstances are unique to Barings and should not apply to other banks operating in London." Barings faced losses of at least 600m in contracts on three stock exchanges in Singapore , Osaka and Tokyo , he said , but 'further unquantifiable losses' were expected .
Barings should be the only financial institution that people should attribute these circumstances to according to the source.