Geopolitics Alpha

Paraguay’s president quits after millions of people’s savings frozen in bank crisis

Published . Updated .

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GEOPOLITICS ALPHAParaguay’s president quits aftermillions of people’s savingsfrozen in bank crisisGEOPOLITICS ALPHA

Santiago Peña’s rightwing administration had authorised Ueno Bank to drastically expand operations before collapse Paraguay’s rightwing president, Santiago Peña, resigned on Thursday after a political and financial crisis collapsed the South American country’s banking system in recent days. At the centre of the crisis is Ueno Bank, which in just a few years under Peña went from an obscure digital bank to one of the country’s largest lenders, claiming to have about 60% of Paraguay’s adult population as customers. Continue reading...

Directly affected

  • No company is named in this report.

Indirectly affected

  • XLF Financial Select Sector SPDR-1.4% 30d

    Financial Select Sector SPDR: it holds banks. Linked by “bank” (banks) in this story.

  • KRE SPDR S&P Regional Banking ETF-3.0% 30d

    SPDR S&P Regional Banking ETF: it holds banks. Linked by “bank” (banks) in this story.

  • ECH iShares MSCI Chile ETF-6.2% 30d

    iShares MSCI Chile ETF holds stocks listed in Chile, which this story is about (“santiago”).

  • BAC Bank of America-11.4% 30d

    Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.

  • JPM JPMorgan Chase+0.1% 30d

    JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.

  • WFC Wells Fargo+4.4% 30d

    Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.

  • C Citigroup-5.6% 30d

    Citigroup (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “bank” (banks) in this story.

  • GS The Goldman Sachs Group+0.6% 30d

    Bank profits move with lending and interest rates. Linked by “financial + bank” in this story

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
XLF-3.78%-2.75%base-2.67%after closeafter closeafter close
KRE-1.70%-0.54%base-2.36%after closeafter closeafter close
ECH-2.93%-3.23%base-3.24%after closeafter closeafter close
BAC-0.95%-4.00%base-3.18%after closeafter closeafter close
JPM-2.45%-3.27%base-4.27%after closeafter closeafter close
WFC-3.01%-1.76%base-3.29%after closeafter closeafter close
C+0.79%-1.31%base-5.13%after closeafter closeafter close
GS-0.10%-3.19%base-6.04%after closeafter closeafter close

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

Santiago Peña’s rightwing administration had authorised Ueno Bank to drastically expand operations before collapse Paraguay’s rightwing president, Santiago Peña, resigned on Thursday after a political and financial crisis collapsed the Sou…

Source: The Guardian

This story

CompanyWhenMoveStatus
BACthat day-3.18%still updating
BACthree days earlier-4.00%final price
BACfive days earlier-0.95%final price
Cthat day-5.13%still updating
Cthree days earlier-1.31%final price
Cfive days earlier+0.79%final price
ECHthat day-3.24%still updating
ECHthree days earlier-3.23%final price
ECHfive days earlier-2.93%final price
GSthat day-6.04%still updating
GSthree days earlier-3.19%final price
GSfive days earlier-0.10%final price
JPMthat day-4.27%still updating
JPMthree days earlier-3.27%final price
JPMfive days earlier-2.45%final price
KREthat day-2.36%still updating
KREthree days earlier-0.54%final price
KREfive days earlier-1.70%final price
WFCthat day-3.29%still updating
WFCthree days earlier-1.76%final price
WFCfive days earlier-3.01%final price
XLFthat day-2.67%still updating
XLFthree days earlier-2.75%final price
XLFfive days earlier-3.78%final price

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This story

12 out of 100Price not final

“Paraguay’s president quits after millions of people’s savings frozen in bank crisis” scores 12 out of 100. The score uses 1 sources. The price is not final yet.