Paraguay takes over Ueno Bank, with 3 million customers, and freezes its deposits
What happened
Paraguay's Central Bank took over Ueno Bank on Tuesday, froze its assets and deposits and halted all services, leaving about 3 million customers without access to their money.
The regulator said the bank's solvency ratio had dropped below half the legal minimum; Ueno's clients equal about 60% of the country's adults, according to MercoPress.
The Deposit Guarantee Fund covers up to 228 million guaraníes (about $38,000) per person, and larger balances must wait for a final accounting by the banking superintendency.
Central Bank president Carlos Carvallo, who ran Ueno before President Santiago Peña appointed him in 2023, said he has signed his resignation but will stay until the bank's resolution is complete.
Carvallo said months of investigation revealed loans to companies linked to the bank's owners; the Paraguayan press reports that several executives, including president Miguel Vázquez, were detained.
Peña, a former shareholder of Ueno Holding who sold his stake in 2025, has stayed silent and cancelled a trip to Spain, while the opposition says it will push for impeachment proceedings against him and Vice President Pedro Alliana.
Summary written by AI from 3 independent sources (Clarín, El Universo, MercoPress) and checked automatically against them for copied text and numbers that are not in the sources. How we work
Open on the live globe →Who reported it
- 2026-11-03 19:30 UTCClarín · clarin.com ↗
- 2026-11-03 20:48 UTCEl Universo · eluniverso.com ↗
- 2026-11-03 21:28 UTCPrensa Libre · prensalibre.com ↗
- 2026-11-04 08:27 UTCMercoPress · en.mercopress.com ↗
- 2026-11-05 14:38 UTCEuronews · euronews.com ↗
- 2026-11-05 16:24 UTCFolha · redir.folha.com.br ↗
- 2026-11-05 16:28 UTCDW · dw.com ↗
- 2026-11-05 16:35 UTCEl Nacional · elnacional.com ↗
- 2026-11-05 16:35 UTCEl País América · elpais.com ↗
- 2026-11-05 17:06 UTCConfidencial via EFE · confidencial.digital ↗
- 2026-11-05 17:14 UTCBBC · bbc.co.uk ↗
- 2026-11-05 17:33 UTCFrance 24 · france24.com ↗
- 2026-11-05 17:43 UTCLe Monde · lemonde.fr ↗
- 2026-11-05 21:37 UTCNYT · nytimes.com ↗
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