Paraguayan Savings Bank Collapses

GRAND RAPIDS, MI. - Paraguayan savings bank, Ueno Bank, collapsed on Wednesday, November 4, 2026 triggering widespread account freezes.

The bank collapsed after the Paraguayan central bank intervened in the bank's operations following a solvency shortfall.

Reports indicated the shortfall resulted from Ueno's recent attempts at rapid expansion and other operational measures. The collapse is expected to affect over 60% of the adult Paraguayan population whoee combined accounts totalled over $380 million.

The Paraguayan deposit insurance insures individual accounts up to $38,000 insuring up to 97% of account holders.