The Collapse of Barings Bank

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Jessie T

 

Date added:

March 11, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 957

 

Was viewed:

402 times

 

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Essay content:

These derivatives take the form of futures and options: A future is an agreement for the future delivery of a certain commodity/ financial instrument at a price set at the time of the contract. An option gives the purchaser the right, but not the obligation, to buy/sell a certain quantity of a specific asset at a fixed price at, or before, In this instance, Nick Leeson, a 28 year old trader at Barings Bank, made a bet that the Nikkei 225 would not drop below 19,000...
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During the morning of January 17, 1995, the city of Kobe, Japan was hit with a major earthquake. As a result, the Nikkei 225 plunged 7% in a week. Unbeknownst to senior management, Lesson had no hedge to protect the bank against an unexpected event such as this. The losses resulting from these transactions resulted in the loss of almost a billion dollars and wiped out the capital of Barings Bank...
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