A major bank (Ueno) in Paraguay has failed, leaving nearly 60% of the country's adult population unable to access their accounts

Mostly right, with some figures to correct. On Tuesday, 3 November 2026, Paraguay's central bank (BCP) began a resolution procedure for Ueno Bank after its solvency ratio fell below half the legal minimum. Its board voted unanimously on 2 November, and the decision was announced early that morning. The AP report says Ueno has about 3 million customers, roughly 60% of the adult population, and it confirms the central bank is winding the bank down rather than simply freezing it. The post's figure of $2.8 billion in deposits is not in the reports I found. AP and Ultima Hora-style coverage put the public money Ueno manages at about $800 to $850 million, including about $380 million from the state pension and health fund (IPS). Withdrawals, transfers, cards and app access were suspended, and police guarded branches. Under Paraguay's resolution framework, authorities have up to 15 calendar days to arrange return of guaranteed deposits. A preliminary estimate from the central bank says about 97% of savings accounts are covered by the deposit guarantee fund. The central bank says this is confined to Ueno and does not affect the financial system as a whole. Governor Carlos Carvallo, who previously ran Ueno, has signed a resignation but will stay to oversee the takeover. Prosecutors have reportedly ordered the detention of Ueno executives. For the latest, see the AP report on the seizure. Whether the 15-day timeline holds is the number to watch.