On Tuesday, 3 November 2026, Paraguay's central bank, the BCP (Banco Central del Paraguay), put ueno bank under resolution. The reason it gave: the bank's solvency ratio had fallen below half of the legal minimum. Since then deposits have been frozen, Congress has passed an emergency deposit guarantee law in two days, the bank's management is in pre-trial detention, and President Santiago Peña faces impeachment. If you live in Paraguay, have applied for residency there or are planning to, this reaches you on two levels: your money, and the documents you file with the migration authority. Here is what is established, what the deposit guarantee pays and what to do now. Status: evening of 6 November 2026.
One week, in order
Events moved fast, so here they are in the order of the official statements:
There was no Senate decision when this was written. For you as a depositor or resident, the politics matter less than how your money comes back.
Who is affected
By the figures given in the Senate, close to two million people held balances at ueno, most of them small. Public money sat there too, including funds of the social security institute IPS. IPS is automatically assigning another bank to pensioners who were paid through ueno. So this is not only about Paraguayans: it reaches anyone who had an account, a card or a term deposit there, received a salary or a pension into it, or paid rent and bills through it.
Foreign residents face a third issue. Anyone who planned to show the migration authority statements, a bank letter or proof of an investment held at ueno now needs a different document. More on that below.
What the deposit guarantee pays
Paraguay's deposit guarantee is set by law: the Fondo de Garantía de Depósitos (FGD) under Law 2334/03, funded by contributions from banks and finance companies and managed by the central bank as a separate fund. The key rules from the text of the law:
New under Law 7745/26: the emergency law of 4 November brings part of it forward. Every depositor receives an advance of up to 40 minimum wages, counted against the full guarantee and paid after overdue debts are set off. Payment must start within 24 hours and may take no longer than five business days after the law comes into force. It goes by transfer to an account in your name, or in cash if you have none. Anyone who receives money they are not entitled to must send it back within 24 hours.
Anything above 75 minimum wages is not covered by the fund. Whether and when any of it comes back depends on the resolution of the bank's assets, and there is no date for that. How US dollar balances are converted at payout has not been set out in the central bank's statements so far.
How the payout works
The central bank has described the procedure in two statements:
1. Account at another bank: if you hold an account at another bank or finance company in Paraguay, the money goes to the one with the highest available balance.
2. No other account: a savings account is opened in your name at a bank or finance company, and the payment goes there.
3. Email from the central bank: since 5 November depositors receive an email from fgdpagos@bcp.gov.py naming the institution assigned to them.
4. First group: the fund pays first to depositors with balances up to 10 million guaraníes, no debts with ueno and an account at another institution. They receive their full balance. The central bank announces the next groups step by step.
5. Lookup: whether it is your turn and how far your case has got, you can check at www.bcp.gov.py/consultas-fgd.
The central bank explicitly warns about fraud and points to its official channels. Expect strangers to send emails, messages and calls in the name of the central bank or of ueno. Never give anyone passwords or card details and never pay anyone a fee for the payout: the procedure runs through the central bank and the institution it assigns to you.
What the collapse means for your residency
The good news first: ueno is a banking case, not a migration case. The emergency law amends the deposit guarantee law, not the migration law, Law 6984/2022. The residency routes we describe in our Paraguay guides stand as they are. What is new since this week is something else: which bank holds your money and your documents has become part of your planning.
Temporary residency. Article 50 of the migration law lists the documents for temporary residency: passport, proof of entry, birth certificate, civil status, criminal record certificates, sworn declarations and the fee. A bank statement or proof of means is not on the list. A frozen account at ueno therefore does not hold up an application for temporary residency.
Switching to permanent residency. When you move to permanent residency, the migration authority checks your economic basis. Which documents it asks for in each category is set out in our guide [Paraguay residency step by step](/en/insights/paraguay-residency-step-by-step). If your pension or income has been paid into a ueno account, have it redirected to an account at another institution now, so that the payment route and your certificates line up again by the time you switch.
Investors. For investors, Article 52 No. 9 of the migration law accepts a bank deposit of the investment amount as proof. If your investment for the [Investor Pass](/en/insights/paraguay-investor-pass) or your project capital sat at ueno, you have a real problem: the deposit guarantee covers only part of the sums involved, and the rest is tied up in the resolution. If your case is running or you are about to file, find out now which document the authority will accept instead, before a deadline passes.
Companies. A Paraguayan company with an account at ueno is a depositor in its own right and has its own guarantee of up to 75 minimum wages. For wages, taxes and suppliers you still need a working business account at another institution straight away.
Which bank to use now
We do not name individual banks here. The ueno case does yield four rules that apply to any bank in Paraguay:
What to do now
1. Check your exposure. List everything that sat at ueno or ran through it: accounts, cards, term deposits (CDA), salary, pension, standing orders for rent, utilities and school fees, and your company's accounts.
2. Check your case with the central bank. At www.bcp.gov.py/consultas-fgd you can see whether and where you will be paid. Watch for the email from fgdpagos@bcp.gov.py and do not answer anything that asks for login details.
3. Keep a second account ready. If you hold an account at another institution in Paraguay, make sure it is active and in your name, exactly as the central bank has you on record.
4. Allow for the set-off. Overdue debts with ueno are deducted from your balance. If you were above 75 minimum wages, document the full amount for the resolution procedure now.
5. Secure your documents for the migration authority. Save every bank statement, bank letter and pension certificate you have. Redirect pension and salary payments to an account at another institution.
6. Rethink your dates. If your switch to permanent residency is coming up, or your investor application depends on money at ueno, have it checked which documents you will file now, before the deadline runs.
Paraguay remains what it is for many of our readers: a country with territorial taxation, an accessible residency and low living costs. What is new since 3 November 2026 is that choosing a bank is no longer a detail to settle on the side. If you want to build your residency in Paraguay and bring bank, documents and deadlines together properly, our [services page for Paraguay](/en/services/paraguay) shows every route with its price.