The Central Bank of Paraguay took over Bank Ouano; The Senate impeached the president and put him under house arrest.
Paraguay's central bank seized Ueno Bank early on Tuesday, November 3, after the board voted unanimously to put it into resolution because its solvency ratio fell below half the legal minimum. Ueno had 2.9 million customers in a country of 6.1 million people, so the shutdown froze the savings of a huge chunk of the population.
Following the collapse of Oano Bank, which left millions of customers without access to their savings, the Senate impeached President Santiago Peña and placed him under house arrest.
Demonstrations broke out across Paraguay demanding compensation and explanations, neither of which were provided by the government.
Peña was a business partner of the group that owned the bank until March 2025, although the bank claims that he was never a shareholder or investor (he was), which indicates signs of a classic corruption case on a huge scale.