11月5日 —— 巴拉圭总统圣地亚哥·佩尼亚周四辞职，此前与其政府有关联的知名商业银行ueno倒闭。以下是关于ueno的更多细节，以及其倒闭如何导致总统下台。什么是UENO？
Nov 5 - Paraguay’s President Santiago Peña resigned on Thursday after the collapse of ueno, a prominent commercial bank with ties to his government. Here are more details on ueno and how its collapse led to the president’s downfall. WHAT IS UENO?
Ueno（名称采用小写“u”拼写）是一家数字贷款机构，从一家小众的本地金融科技公司迅速成长为一家中型巴拉圭银行。
Ueno, which spells its name with a lowercase "u", is a digital lender that grew rapidly from a niche local fintech company into a mid-sized Paraguayan bank.
该行于2021年推出，曾被拿来与Nubank、Monzo或Revolut等其他快速增长的数字银行相提并论。
Launched in 2021, ueno had been compared to other fast-growing digital banks like Nubank, Monzo or Revolut.
截至6月，该公司称拥有约300万客户——在一个650万人口的国家里——并管理约8.5亿美元公共资金，包括来自国家机构和养老金相关机构的资金。
As of June, the company said it had around 3 million customers — in a country of 6.5 million people — and administered roughly $850 million in public funds, including money from state institutions and pension-related bodies.
该行的快速扩张使其成为巴拉圭最引人注目的金融成功案例之一。但在最近几个月，它因涉嫌向其控股股东Vázquez集团关联公司过度放贷而受到监管审查。
The bank’s rapid expansion made it one of Paraguay’s most visible financial success stories. But in recent months it came under regulatory scrutiny over alleged excessive lending to companies linked to its controlling shareholder, Grupo Vázquez.
巴拉圭央行在认定ueno违反最低偿付能力要求后进行了干预，引发了一场危机，导致数百万客户暂时无法访问其账户。什么将佩尼亚总统与UENO联系在一起？
Paraguay’s central bank intervened after determining that ueno had breached minimum solvency requirements, triggering a crisis that left millions of customers temporarily unable to access their accounts. WHAT LINKS PRESIDENT PENA TO UENO?
2023年当选的经济学家佩尼亚，因其与Vázquez集团的过往商业关系而面临政治审视。佩尼亚表示，他曾是Vázquez集团股东，直到2025年3月出售了其股份。Ueno称，佩尼亚从未作为股东或投资者与该银行有直接关系。
Peña, an economist who was elected in 2023, has faced political scrutiny because of his past business ties to Grupo Vázquez. Peña has said he was a Grupo Vázquez shareholder until March 2025 when he sold his stake. Ueno says Peña never had a direct relationship with the bank as a shareholder or investor.
反对派议员指责佩尼亚存在利益冲突、挪用养老金和机构掩盖真相。佩尼亚多次拒绝任何关于不当关系的暗示，将这场争议描述为原本属于监管问题的政治升级，并主张应通过法院解决。
Opposition lawmakers have accused Peña of conflict of interest, misuse of pension funds and institutional cover-up. Peña, who has repeatedly rejected any suggestion of improper ties, has described the controversy as the political escalation of what began as a regulatory issue and has argued that it should be addressed through the courts.
检察官于周四表示，他涉嫌参与调查该银行失败一事，但尚未被传唤接受问询。本周，他们已对八名上野高管下达了逮捕令。
Prosecutors said on Thursday he was among those being investigated over the bank’s failure but he has not been taken in for questioning. They issued arrest warrants for eight ueno executives this week.
监管机构是如何处理上野的？围绕监管者是否充分监督了上野在扩张过程中的一举一动，一直存在疑问，尤其是因为该国央行行长卡洛斯·卡尔沃此前曾担任这家数字贷款公司的负责人。
HOW DID REGULATORS DEAL WITH UENO? Questions have focused on whether regulators adequately supervised ueno as it expanded, particularly because the country’s central bank chief, Carlos Carvallo, had previously been head of the digital lender.
卡尔沃于周二辞去央行行长职务，因为央行将上野置于破产程序中——这是除立即清算之外最严厉的处置措施。
Carvallo resigned from the central bank on Tuesday after it put ueno into resolution, its strongest measure short of immediate liquidation.
央行否认存在利益冲突，称卡尔沃已自行回避与上野相关的所有决策。然而，随着监管调查的细节曝光后，压力不断加大，国会议员、银行业代表和反对人士纷纷质疑监管力度是否足够。
The central bank has denied any conflict of interest, saying Carvallo recused himself from all decisions related to ueno. Nonetheless, pressure mounted after details of a regulatory probe became public, with lawmakers, banking industry representatives and opposition figures raising doubts as to whether there had been sufficient oversight.
上野账户发生了什么？央行表示，正在将上野客户的账户转移至其他金融机构，这一过程给整个银行体系带来了压力，并导致多个银行应用出现故障。
WHAT HAS HAPPENED TO THE UENO ACCOUNTS? The central bank said it was working to transfer ueno customer accounts to other financial institutions, a process that created strains across the banking system and contributed to outages at several banking apps.
客户仍无法在上野的账户中访问自己的资金。本周，一些人聚集在上野分行外，试图获取储蓄账户的访问权限。
Customers are still unable to access their accounts within ueno. Some gathered outside ueno branches this week seeking access to their savings.
上野以移动端优先的模式吸引了大量传统银行服务不足的新客户，使许多巴拉圭人更容易获得数字支付、储蓄及其他金融服务。
Ueno’s mobile-first model helped attract new customers who were underserved by traditional banks and gave many Paraguayans easier access to digital payments, savings and other financial services.
目前无法访问账户的客户中包括通过上野领取国家福利金的退休人员，促使当局迅速行动，确保存款安全并保障公共资金。佩尼亚本周早些时候批准了一项立法，旨在帮助加快向受银行倒闭影响的储户支付款项。
Those who have been unable to access their accounts include pensioners who receive state benefits through ueno, prompting authorities to move quickly to guarantee deposits and safeguard public funds. Peña earlier this week approved legislation to help accelerate payments to depositors affected by the collapse of the bank.
这会不会对巴拉圭更广泛的金融体系产生影响？当局表示，这场危机仅限于乌埃诺银行，并不反映巴拉圭银行体系存在更广泛的弱点。
COULD THIS AFFECT PARAGUAY’S FINANCIAL SYSTEM MORE WIDELY? Authorities say the crisis is limited to ueno and does not reflect broader weaknesses in Paraguay’s banking system.
除了存款外，该银行在2026年的一份声明中表示，已从开发机构、国际基金和资本市场获得约5.1亿美元融资。其中包括由摩根大通和美国银行牵头在华尔街发行的3.5亿美元债券。
In addition to deposits, the bank said in a 2026 statement it had secured about $510 million in financing from development institutions, international funds and capital markets. These include a $350 million bond issuance on Wall Street led by JPMorgan and Bank of America.
巴拉圭已获得投资级信用评级，并建立了作为南美洲较为稳定且友好改革经济体之一的声誉。目前尚不清楚这场危机是否会在长期内影响该国的声誉。
Paraguay has won investment-grade credit ratings and built a reputation as one of South America’s more stable and reform-friendly economies. It is unclear if the crisis will affect the country’s reputation in the longer term.