Paraguay's Ueno Bank Crisis Freezes Redemptions at 13 Funds

Paraguay's takeover of Ueno Bank has frozen redemptions at 13 mutual funds and trapped public money, widening the bank's failure into a financial and political crisis. The securities regulator suspended redemptions, cash distributions and new subscriptions across 13 funds managed by five firms because they held Ueno-linked positions whose value and liquidity were uncertain. Trading in Ueno bonds was also halted. Paraguay's national retirement and health fund, IPS, had about $380 million tied up at the bank.

Source: TokenPost