Subject category:
Finance, Accounting and Control
Published in:
1995
Length: 17 pages
Data source: Published sources
Abstract
On 27 February 1995, Barings, one of the UK''s oldest merchant banks, and a well-known name, was placed in administration following the disclosure that one of its Singapore traders had accumulated losses on trading futures and options contracts of over #800 million. The trader was Nick Leeson. First of a two case series (295-033-1 and 295-034-1), Part One considers the scale of the disaster, placing it in the context of similar banking losses of recent years, as well as considering the damage to creditors. It reviews the features of futures and options - used by Leeson in authorised operations - as well as the kind of risks encountered. It also evaluates Barings'' ill-fated corporate strategy since the 1980s.
Location:
Size:
GBP350 million capital
Other setting(s):
1995
Subject category:
Finance, Accounting and Control
Published in:
1995
Length: 5 pages
Data source: Published sources
About
Abstract
On 27 February 1995, Barings, one of the UK''s oldest merchant banks, and a well-known name, was placed in administration following the disclosure that one of its Singapore traders had accumulated losses on trading futures and options contracts of over #800 million. The trader was Nick Leeson. First of a two case series (295-033-1 and 295-034-1), Part One considers the scale of the disaster, placing it in the context of similar banking losses of recent years, as well as considering the damage to creditors. It reviews the features of futures and options - used by Leeson in authorised operations - as well as the kind of risks encountered. It also evaluates Barings'' ill-fated corporate strategy since the 1980s.
Settings
Location:
Size:
GBP350 million capital
Other setting(s):
1995
Related
Subject category:
Finance, Accounting and Control
Published in:
1995
Length: 5 pages
Data source: Published sources