AsunciónUeno Bank claimed 60% of Paraguay’s adults as customers.
President Santiago Peña resigned Thursday, hours after regulators seized the bank.
Public funds supplied about a quarter of deposits, while the bank lent to its owners’ companies beyond legal limits.
Deposit insurance covers up to $38,000 per person, enough for about 97% of depositors, preliminary estimates show.
Prosecutors charged 27 Ueno officials, and insured deposits must be paid within 15 days of the takeover.
How each outlet framed it
drawn from 600+ reports worldwide
- CBC News leans critical
- notes Peña apologised but refused to accept responsibility for the bank collapse, and cites his 'democratic institutions' reasoning
- Aol leans critical
- reports Ueno's solvency ratio fell below half the legal minimum and that about $380M of state pension and health funds are exposed
- Hindustan Times
- reports the Central Bank's 'protecting depositors' rationale and Peña's video resignation as protests entered a third day
Sources: CBC News, Aol, Hindustan Times