Paraguay
The Senate Requested BCP Data on Ueno Bank Operations and Public Funds
The Upper House approved several information requests addressed to the Central Bank of Paraguay. Among them, one stood out regarding Ueno Bank and another on the IPS loan disbursement mechanism.
The Chamber of Senators approved on September 9 a series of information requests to the Central Bank of Paraguay (BCP), according to ABC Color. Among the requests, one linked to the operations of Ueno Bank stood out, promoted by Honor Colorado senators led by the president of Congress, Basilio “Bachi” Núñez.
According to ABC Color, the ruling-party request seeks information on Ueno Bank’s operations, an entity of Grupo Vázquez SAE, chaired by Federico Miguel Vázquez. The outlet noted that there were also opposition initiatives on the same issue, although attention centered on the presentation by the Cartismo bloc.
According to that outlet, ruling-party lawmakers had anticipated that they were seeking to refute claims about an alleged order from Horacio Cartes for Ueno Bank to concentrate public fund deposits, particularly retirement resources from the Instituto de Previsión Social (IPS).
ABC Color indicated that the bill contains 31 questions and aims to determine whether the entity, which holds G. 5.1 billion, equivalent to US$ 862 million, in public funds and IPS resources, exceeded legal limits in transactions with related companies. It also seeks to determine the scope of oversight exercised by the parent bank. The BCP is chaired by Carlos Dagoberto Carvallo Spalding, who, according to the same outlet, years ago headed the then Financiera Ueno.
In the same session, another request submitted by Senator Rafael Filizzola was approved, in which he asked the BCP to specify whether there is any legal, regulatory, operational or technical provision that prevents the IPS from directly crediting loans granted to employees and retirees into accounts at any financial institution chosen by the borrower.
That request also asks whether the BCP or the Superintendency of Banks received, since 2020, inquiries, complaints or reports from the IPS, Visión Banco, Ueno Bank or other entities about that disbursement mechanism, with copies of the background and the responses issued, always according to ABC Color.
The Upper House also gave the green light to other information requests to the BCP regarding operations by Sudameris, GNB and Itaú linked to the deferral of losses, the outlet added.
Sources
About this note. Written by El Notero with the assistance of artificial intelligence, based on what was published by the cited outlet. El Notero did not conduct its own reporting on this event.
