Ueno Bank was a BIG deal bank....developed in the past year or two...into a digital bank in Paraguay. About a week ago....it collapsed....so if you had money there....it's locked down until the authorities can determine what still exists.
Everyone there (probably 60-percent of the population) held accounts.
Where things went wrong? At this stage....they seem to have signed up to provide risky or poorly documented loans. Then....there's this issue of bank 'bosses' (owners) who had separate business operations....that they approved for themselves to have large risky loans.
The bank holding gov't money? Well....curiously, there's probably near a billion dollars in public money frozen as well. So if you were running a school-teacher account....there's not going to be cash flow for those folks.
Pension flow? Same issue.
Something like FDIC? Yeah....but only around $38,000 per person. Best estimates....around two-thirds of account-holders fit into this area. The others beyond $38k? Screwed.
How this insurance will work? Presently....there is talk of a $1,500 release (within a week), and a suggestion of another release in early December. If you were asking me about the end-point of the $38,000? I might suggest that it's at least 90 days away.
Bank still having assets? There's to be a massive audit and clear cash situation to be laid out. The screwed-folks (having more than $38,000)? There is some optimistic folks who seem to believe a fair amount of cash still exists (somewhere).
Political mess created? Well....the President had to go, and a lot of skepticism exists presently.
If you were a small businessman, with a million-dollars of 'worth'? I'd go and say that 2027 is a pretty crappy year for you, if you held a lot of money in savings or CDs.
The last thing to wonder about? Throughout Latin America....there's probably twenty-odd banks with serious money issues...stumbling along and hoping to continue on.
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