# Central Bank of Paraguay begins resolution of ueno bank as Asoban rules out systemic risk in the financial sector

The monetary authorities and the bankers' association act to protect depositors and make clear that the winding-up of the bank is an isolated event in the country.

- Section: Business
- Published: November 4, 2026
- Address: https://ceoone.com.br/en/article/central-bank-of-paraguay-begins-resolution-of-ueno-bank-as-asoban-rules
- Em português: https://ceoone.com.br/artigo/banco-central-do-paraguai-inicia-resolucao-do-ueno-bank-e-asoban-desca.md

![The Central Bank of Paraguay building in Asunción, with its pale concrete façade, under a blue sky, behind trees and a lawn](https://pub-b80e49b2737940b3ab5d3f20d0578192.r2.dev/artigos/banco-central-do-paraguai-inicia-resolucao-do-ueno-bank-e-asoban-desca-foto-larga.webp)

Photo: Felipe Méndez/Wikimedia Commons (CC BY-SA 3.0), sides extended with AI

## Key points

- The Central Bank of Paraguay opened the resolution of ueno bank after adjustments to its balance sheet left the bank's capital below 50% of the legal minimum.
- Asoban says the case is isolated: the bank holds 7% to 8% of the country's deposits, and the sector remains sound, solvent and liquid.
- The guarantee fund repays up to 75 minimum wages per customer, about 228.3 million guaranis (R$ 160,000), and the priority is to pay small savers first.

The Central Bank of Paraguay (BCP) unanimously ordered the start of resolution proceedings for ueno bank after finding a critical shortfall in its solvency ratio, revealed by adjustments to its financial statements that left the institution's capital below 50% of the legal minimum. The extreme measure follows Law No. 2,334/03 and seeks to wind up the entity in an orderly way under the intervention of the Superintendency of Banks, with absolute priority given to protecting assets and preserving the financial ecosystem.

As the case drew attention, the vice-president of the Paraguayan Banks Association (ASOBAN), José Brítez, led a press conference in Asunción to reassure the market and firmly rule out the risk of a run on deposits in the country. The executive stressed that the ueno bank situation is an isolated, contained event and that, although the bank accounts for some 7% to 8% of the system's deposits and matters because of its large number of customers, the Paraguayan banking sector maintains its high levels of soundness, solvency and liquidity.

In his remarks, Brítez said the urgent priority for the monetary authorities should be to set up fast mechanisms to speed the payment of deposits covered by the Deposit Guarantee Fund (FGD). The fund guarantees repayment of up to 75 monthly minimum wages per individual or company, a limit equivalent to roughly 228.3 million guaranis (about R$ 160,000). The ASOBAN representative underlined the importance of putting first the small savers who depend on that money for day-to-day needs, while other creditors and amounts above the limit will be paid as the assessment of the bank's assets moves forward.

Asked about possible failures in supervisory warnings or preferential treatment for the failed bank, the ASOBAN vice-president declined to pass judgment, stressing the association's technical role and noting that the moment calls for focus on managing the crisis. Brítez recalled that the operational fallout and the question of liability have already been referred to the courts by the BCP itself, which filed a formal complaint with the Public Prosecutor's Office to investigate the causes of the collapse and apply the appropriate penalties.

The association's leader also defended keeping the Central Bank's current leadership, speaking out against changes at the top in the middle of the turmoil, including the resignation offered by the bank's president, Carlos Carvallo. In ASOBAN's view, the BCP board took the necessary regulatory decisions and needs stability to carry out the resolution, avoiding further institutional noise that could hamper the liquidation of the assets.

As for the bank's assets, ASOBAN said that any takeover of the loan portfolio by other institutions in the system will depend on a prior assessment of the assets by the BCP and on the subsequent opening of competitive bidding. As for the international notes and bonds issued by ueno bank, disputes and settlements will have to be resolved in US courts, under the rules of each issue, with no expected negative impact on debt issuance by other Paraguayan institutions.

Finally, the banking sector ruled out any threat to Paraguay's recently won investment grade or to the country's appeal to foreign investors. Brítez reiterated that the national macroeconomic fundamentals remain solid, with sustainable growth, and that the swift triggering of the FGD's legal guarantees reinforces the transparency and prudential maturity of the country's supervisory institutions before international bodies.

The Central Bank of Paraguay keeps a direct line of communication on its official platforms to guide account holders on the repayment schedules and asks the public to avoid spreading rumors out of context. ASOBAN has made its technical staff available to the BCP to help carry out the payment stages, reiterating that normality will return to the market as small savers regain access to their money.

## Sources and editorial notes

- BCP press release: official Comunicado de Prensa of the Central Bank of Paraguay (BCP), Asunción, November 3, 2026.
- Sector position: Forbes Paraguay / official press conference of the Paraguayan Banks Association (ASOBAN) given by José Brítez (Vice-President of ASOBAN).

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