解釋：ueno銀行是什麼？它如何引發巴拉圭政治危機？

作者：Lucinda ElliottBy Lucinda Elliott

11月5日（路透）——巴拉圭總統聖地牙哥・貝尼亞（Santiago Peña）週四辭職，此前與其政府有關聯的知名商業銀行ueno倒閉。Nov 5 (Reuters) - Paraguay's President Santiago Peña resigned on Thursday after the collapse of ueno, a prominent commercial bank with ties to his government.

以下是ueno以及其倒閉如何導致總統垮台的更多細節。Here are more details on ueno and how its collapse led to the president's downfall.

UENO是什麼？WHAT IS UENO?

ueno的名稱以小寫「u」拼寫，是一家數位放款機構，從一家利基型本土金融科技公司迅速成長為巴拉圭中型銀行。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.

ueno於2021年成立，曾被拿來與Nubank、Monzo或Revolut等快速成長的數位銀行相提並論。Launched in 2021, ueno had been compared to other fast-growing digital banks like Nubank, Monzo or Revolut.

截至6月，該公司表示，在一個人口650萬的國家，它約有300萬名客戶，並管理約8.5億美元公共資金，包括來自國家機構和與退休金相關機構的資金。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.

這家銀行的快速擴張，使其成為巴拉圭最受矚目的金融成功故事之一。但近幾個月來，它因涉嫌對與控股股東Vázquez集團（Grupo Vázquez）有關聯的企業過度放款，而受到監管審查。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.

巴拉圭中央銀行認定ueno違反最低清償能力要求後介入，引發一場危機，導致數百萬名客戶暫時無法存取自己的帳戶。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.

貝尼亞總統與UENO有何關聯？WHAT LINKS PRESIDENT PENA TO UENO?

貝尼亞是一名經濟學家，於2023年當選；由於他過去與Vázquez集團的商業關係，他面臨政治檢視。貝尼亞表示，他曾是Vázquez集團股東，直到2025年3月出售持股。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表示，貝尼亞從未以股東或投資人身分與該銀行有直接關係。Ueno says Peña never had a direct relationship with the bank as a shareholder or investor.

反對派國會議員指控貝尼亞涉及利益衝突、濫用退休金資金及制度性掩護。貝尼亞一再否認任何不當關係的說法，並把這場爭議形容為一起原本屬於監管問題的事件遭政治升高；他主張，應透過法院處理此事。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.

檢方週四表示，他是因該銀行倒閉而遭調查的人士之一，但尚未被帶去訊問。檢方本週對8名ueno高層發布逮捕令。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.

監管機關如何處理UENO？HOW DID REGULATORS DEAL WITH UENO?

外界質疑的焦點在於，監管機關是否在ueno擴張期間進行充分監督，尤其是該國央行總裁卡洛斯・卡瓦略（Carlos Carvallo）曾經擔任這家數位放款機構的負責人。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.

央行週二將ueno納入處置程序後，卡瓦略辭去央行職務；這是央行僅次於立即清算的最強硬措施。Carvallo resigned from the central bank on Tuesday after it put ueno into resolution, its strongest measure short of immediate liquidation.

央行否認有任何利益衝突，稱卡瓦略迴避了所有與ueno相關的決策。儘管如此，一項監管調查的細節公開後，壓力升高；國會議員、銀行業代表和反對派人士都質疑監督是否足夠。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.

UENO帳戶目前情況如何？WHAT HAS HAPPENED TO THE UENO ACCOUNTS?

央行表示，正努力將ueno客戶帳戶轉移至其他金融機構；這個過程對整體銀行體系造成壓力，並導致數個銀行App發生中斷。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.

客戶目前仍無法透過ueno存取自己的帳戶。本週有部分客戶聚集在ueno分行外，希望取回存款。Customers are still unable to access their accounts within ueno. Some gathered outside ueno branches this week seeking access to their savings.

ueno以行動服務為優先的模式，有助吸引傳統銀行服務不足的新客戶，也讓許多巴拉圭人更容易使用數位支付、儲蓄和其他金融服務。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.

無法存取帳戶的人包括透過ueno領取國家給付的退休人士，促使當局迅速採取行動，以保障存款並保護公共資金。貝尼亞本週稍早批准法案，協助加快向受該銀行倒閉影響的存戶付款。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.

這是否可能更廣泛影響巴拉圭金融體系？COULD THIS AFFECT PARAGUAY'S FINANCIAL SYSTEM MORE WIDELY?

當局表示，這場危機僅限於ueno，並不反映巴拉圭銀行體系存在更廣泛的弱點。Authorities say the crisis is limited to ueno and does not reflect broader weaknesses in Paraguay's banking system.

除存款外，該銀行在2026年的一份聲明中表示，已從開發機構、國際基金和資本市場取得約5.1億美元融資。其中包括由摩根大通和美國銀行主導、在華爾街發行的3.5億美元債券。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.

巴拉圭已取得投資等級信用評等，並建立起南美洲較穩定、也較支持改革的經濟體之一的聲譽。目前尚不清楚這場危機是否會在較長期影響該國聲譽。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.

（Lucinda Elliott於蒙特維多報導，Daniela Desantis於亞松森補充報導。Daina Beth Solomon與Rosalba O'Brien編輯）(Reporting by Lucinda Elliott in Montevideo, additional reporting by Daniela Desantis in Asuncion. Editing by Daina Beth Solomon and Rosalba O'Brien)