He bankrupted Barings because it fa

He bankrupted Barings because it failed to cover the huge debt Leeson created them in the bank's name. When she entered liquidation, Barings, by Leeson, have positions futures uncovered equity and interest rates on the Japanese market worth 27 bn. USD 7 bn. USD contract Nikkei 225 and 20 bln. USD on Japanese government bonds (JGB) and contracts euroyeni. Leeson also sold 70,892 put and call options with a nominal value of 6.68 bln. USD. The value of these positions is staggering; Their enormity is even more shocking if one compares with the bank reported capital of 615 mln. USD. The size and location may be highlighted that in January and February 1995 Barings Barings Tokyo and London have transferred USD 835 million subsidiary in Singapore to help them a debt to cover marginal SIMEX.