Ueno repayments: why the first payment may leave protected savings outstanding

The first money returned to Ueno Bank savers can restore access to household savings without settling what they will ultimately recover. A customer with enough eligible savings who receives the maximum advance could still have G.106.54 million covered by Paraguay’s deposit guarantee but awaiting payment.

That distinction matters after the bank stopped operating. La Nación reported on November 8 that customers had lost access to their accounts, cards and app following the central bank’s decision earlier in the month to begin resolving the institution—the legal process for dealing with a failing bank.

The repayment arrangements separate three things: an initial advance, the full amount protected by the guarantee, and any savings above that protection.

What the two limits mean

The reported advance is capped at 40 monthly minimum wages. The ordinary deposit guarantee covers up to 75 minimum wages per eligible depositor at the institution. The advance is part of those 75 wages. Paraguay’s judiciary confirmed in a November 5 notice that Law 7745/2026 introduced an advance mechanism alongside the existing guarantee.

The Labour Ministry puts the relevant monthly minimum wage at G.3,044,000, effective July 1. Multiplying that amount by 40 gives a maximum advance of G.121,760,000. Multiplying it by 75 gives total ordinary protection of G.228,300,000. The difference is G.106,540,000.

Multiple accounts do not multiply that protection. Article 1 of the deposit-guarantee law combines a person’s deposits at the institution when applying the limit.

Consider a hypothetical eligible saver with no debts to Ueno, holding two accounts worth 50 minimum wages each. Each account contains G.152.2 million; together they contain G.304.4 million. If that saver receives the full advance, the combined balance divides as follows:

Each row can be checked by multiplying its wage figure by G.3,044,000. This is an illustration of the ceilings, not an observed payment or a forecast of recovery. Actual entitlements depend on eligibility and applicable rules, including any debt adjustments.

The final row is outside the ordinary guarantee. La Nación reports that recovery above the ceiling depends on what is recovered through the bank’s liquidation. It is therefore uncertain; being above the limit does not establish that the entire excess will be lost.

What the payment figures establish

La Nación’s November 8 report attributed approximately G.996 billion in disbursements to central-bank authorities. Its body counted about 1.197 million credited accounts across two batches. Those account credits cannot be read as 1.197 million distinct people fully repaid.

ABC Color, also reporting on November 8, gave a different official total: G.994.601 billion through Friday, November 6. It reported that disbursements were scheduled to continue through November 11. The November 8 publication date does not make those earlier transfers new payments that day, and the announced schedule does not establish completed payments.

There is another distinction between money transferred by the central bank and money available to a customer. In a later November 8 clarification reported by La Nación, the central bank said it supplies funds to receiving banks and finance companies, which execute the customer payments. Checks involving linked transactions can delay release.

That clarification also said savings certificates, known locally as CDA, were outside the first two payment groups, with subsequent stages still to be announced. Exclusion from those early batches does not by itself establish exclusion from the statutory guarantee. For certificate holders, the immediate unanswered question was when their payment stage would begin.

Sources

All sources are in Spanish.

• La Nación: repayment totals and advance limits
• ABC Color: payments reported through November 6
• La Nación: clarification on payment groups
• Congressional library: Law 2334
• Paraguayan judiciary: guarantee and advance mechanism
• Labour Ministry: minimum wage effective July 1