Paraguay Seizes Ueno Bank as Millions Face UncertaintyUeno Seizure Puts Peña’s Bank Ties Under ScrutinyRegulators Move to Contain Ueno’s Financial Collapse
On November 3, Paraguay’s central bank placed Ueno Bank under resolution after its solvency fell below half the legal minimum, putting millions of customers’ deposits and a vast sum of taxpayer money in question.On November 3, Paraguay’s central bank seized Ueno Bank after its solvency plunged, putting millions of customers’ funds and public investments at risk while renewing questions about President Santiago Peña’s past ties to its owner.On November 3, Paraguay’s central bank took control of Ueno Bank after its solvency dropped below half the legal minimum, seeking to protect depositors and contain disruption as millions of customers face interrupted services.