MercoPress. South Atlantic News Agency

Paraguay takes over Ueno Bank, with 3 million customers, and freezes its deposits

Paraguay’s Central Bank on Tuesday took over Ueno Bank, one of the country’s largest banks, after its solvency ratio fell below 50% of the legal minimum, and froze all its assets and liabilities, including the savings of some 3 million customers and more than US$800 million in public funds. The bank immediately suspended all its services. Read full article