Paraguay Begins Ueno Bank Deposit Guarantee Payments

The Central Bank of Paraguay began deposit-guarantee payments on November 5 to eligible Ueno Bank savers, two days after placing the lender into resolution over a solvency ratio below half the legal minimum. The first payment group is limited to customers with balances of up to 10 million guaraníes who owe Ueno no money and hold an account at another Paraguayan financial institution. The central bank announced the payments as Ueno customers remained unable to access digital banking, withdrawals and transfers. A report put the affected customer base at about 2.94 million. The regulator has not said how many savers qualify for the first group or how much money has been paid. It said later payment groups would be announced as the process advances; no date for them was given. Separately, some peer-to-peer listings on Bybit showed USDT offered at a premium to the central bank’s dollar reference rate. One listing early on November 5 asked 6,942 guaraníes per USDT, 13% above the November 4 reference of 6,144.02 guaraníes per dollar. Other listings showed substantially different prices, including offers of 4,992 to 5,000 guaraníes for small orders. The listings represent particular...