Paraguay begins returning funds to Ueno Bank depositors following the bank's crisis.
The Paraguayan Central Bank intervened in Ueno Bank on November 2 after the institution's solvency index fell below the required minimum. The bank has closed, and the central bank has begun returning deposits to a first group of savers. The Deposit Guarantee Fund covers up to 75 minimum salaries for individuals or entities.
- Ueno Bank had over three million clients.
- The Central Bank ordered a resolution procedure for Ueno Bank.
- Ueno Bank, a popular Paraguayan financial entity, has closed.
- Ueno Bank's solvency index fell below 50 percent of the required minimum.
- Paraguay's central bank intervened because ueno breached minimum solvency requirements.
- Ueno administered roughly $850 million in public funds as of June.
- The Paraguayan Senate voted to remove the former president.
- Conmebol stated compromised resources represent about 2.5 percent of its income.
- The Deposit Guarantee Fund covers up to 75 minimum salaries for individuals or entities.
- The initial payment stage prioritized clients with deposits up to 10 million guaranis.
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