Santiago Peña announced a proposal to reimburse 98% of savers this week and named a new Central Bank of Paraguay (BCP) president after Carlos Carvallo's resignation.

Ueno Bank has 2.9 million customers, about 40% of Paraguay's population, processes close to 3 million transactions a day and handles two-thirds of electronic payments at the big retail chains. The central bank decided unanimously to start resolution proceedings against the bank; according to the Public Prosecutor's Office, it faced severe insolvency, with capital below half the required minimum. Peña was a shareholder in Ueno's controlling group until April 2025, and Carvallo ran Financeira Ueno before Peña appointed him to the central bank in 2023; he left the post on Tuesday at the president's request, and Peña canceled his trip to the Ibero-American summit in Madrid because of the crisis.