# Ueno Bank crisis leads to resignation and impeachment of PEA

> Developing situation record from CLSTR: https://clstr.news/situations/ueno-bank-solvency-crisis-in-paraguay
> Updated: 2026-11-04T12:53:02.000Z. Sources: 698. Developments: 2.

The financial crisis triggered by the Central Bank of Paraguay (BCP) intervention of Ueno Bank has escalated into a major political upheaval. Following the bank’s solvency ratio falling below 50% of the required minimum, the resulting freeze on approximately $850 million in public funds and the impact on nearly 3 million customers led to intense political pressure. The crisis involves significant public resources, including approximately $355 million linked to the Social Security Institute (IPS).

On November 4, 2026, President Santiago Peña resigned from office, citing the necessity to preserve national stability, social peace, and democratic institutions. His resignation follows impeachment proceedings initiated by 35 opposition lawmakers, who alleged conflicts of interest due to Peña’s former ties as a shareholder and director of the group controlling Ueno Bank. Although Peña submitted his resignation, the Chamber of Deputies voted to proceed with the impeachment, passing the case to the Senate. 

Recent developments indicate that the banking collapse has prompted the resignation of Central Bank President Carlos Carvallo. Public indignation has manifested in mass protests in Asuncion and other cities, with demonstrators demanding the return of their savings. While Peña submitted his resignation, he remains formally in office as the impeachment process continues. If found guilty, he could lose the lifelong senate status typically granted to former presidents under the Paraguayan Constitution. The State Prosecutor's Office continues to investigate potential financial irregularities, including a “simulated credit sale scheme,” and has implicated 27 individuals.

## Claims

- Santiago Peña resigned from the presidency of Paraguay. (reported by 35 sources)
- The resignation attempt failed due to a lack of quorum in Congress. (reported by 9 sources)
- The Central Bank of Paraguay intervened in Ueno Bank. (reported by 40 sources)
- Approximately 3 million customers are affected by the bank's situation. (reported by 37 sources)
- Congress is proceeding with impeachment proceedings against Santiago Peña. (reported by 31 sources)
- Ueno Bank's solvency ratio fell below 50% of the required minimum. (reported by 27 sources)
- Carlos Carvallo resigned as head of the Central Bank of Paraguay. (reported by 20 sources)

## Timeline

### 2026-11-04: Santiago Peña resigns amid Paraguay banking crisis

President Santiago Peña resigned amid a political crisis in Paraguay following the insolvency of Ueno Bank, which froze millions of accounts and led to unanimous impeachment votes in Congress.

670 sources. https://clstr.news/cluster/paraguay-intervenes-ueno-bank-following-solvency-crisis

### 2026-11-01: IPS guarantees pension payments amid Ueno Bank crisis

Paraguay's IPS guarantees pension and bonus payments despite having US$ 355 million invested in the intervened Ueno Bank.

42 sources. https://clstr.news/cluster/argentina-announces-new-retirement-insurance-rules-and-november-payment-schedules

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Cite as: Ueno Bank crisis leads to resignation and impeachment of PEA. CLSTR, https://clstr.news/situations/ueno-bank-solvency-crisis-in-paraguay