Paraguay Senate asks BCP for IPS loan report

Update September 16, 2026: The Senate added new report requests to its agenda for the Central Bank of Paraguay and the Superintendence of Banks on IPS loan disbursements through banks. The inquiry seeks to determine whether, from 2020 to today, they received complaints, reports or requests for opinions about that mechanism.

Paraguay’s Senate has new report requests on its agenda for the Central Bank of Paraguay and the Superintendence of Banks, alongside oversight questions involving Banco Itaú Paraguay and other financial supervision matters. In Itaú’s case, the upper chamber had already approved a request over alleged cyberfraud, with 15 business days to respond, and is now adding a separate inquiry tied to the disbursement of loans from the Social Security Institute, or IPS, through banks.

What exactly is the Senate asking for?

The resolution proposal asks the regulator for a full record of any actions linked to Itaú Paraguay. That includes disciplinary proceedings, sanctions, fraud and cybercrime investigations, complaints involving employees, and corrective actions in information security.

It also requests background on any technology supervision the Central Bank carried out over the institution between 2016 and 2026. According to La Tribuna, the procedure follows Law No. 5453/2015 and its amendment, Law No. 7199/2024, which govern report requests to Congress.

What deadline does the Central Bank have?

The Central Bank of Paraguay must deliver the information within 15 business days, under constitutional warning. That deadline was set in the resolution approved by the Senate.

The same pattern played out in the September 9 session, when the upper chamber approved other report requests tied to the banking system, also addressed to the BCP. RDN reported that those included requests on bank mergers, the use of public funds and cyberfraud, with lawmakers asking the regulator to detail its supervisory response to complaints of bank scams.

How does this case fit into the broader set of requests?

The Itaú case is part of a broader package of parliamentary oversight over private banks and BCP supervision. 5días said the requests cover at least seven institutions, including Ueno Bank, Sudameris Bank, Banco GNB Paraguay, Banco Continental, Banco Atlas, Banco Familiar and Banco Itaú Paraguay.

In parallel, La Tribuna published another request promoted by Senator Líder Amarilla, also focused on Itaú Paraguay, seeking to learn how the regulator responded to allegations of cyberfraud tied to the bank. The same outlet later carried a public explanation from the senator about citizen reports of savings account drainings through unauthorized access and bank fraud.

What else appears in the requests to the BCP?

The questions are not limited to Itaú. In Ueno Bank’s case, ABC Color reported that the Senate asked the BCP 31 specific questions about solvency, prudential limits, related parties, inspections, monitoring and corrective measures by the Superintendence of Banks.

ABC also reported that the Ueno request was driven by lawmakers from the ruling cartista bloc, led by Basilio "Bachi" Núñez, Natalicio Chase and Antonio Barrios. In another report, the outlet said Ueno publicly responded to the request and mentioned transactions with firms in the same holding group, including Mowi S.A., Grupo M S.A., Grupo Hendy S.A., Tuiu S.A., Franede S.A. and Aime S.A.

What reaction came from other banks?

Banco Atlas issued a statement saying it was fully willing to cooperate with Congress and aligned with initiatives that bring transparency to the financial system’s actions. ABC Color published that response in the context of a Chamber of Deputies resolution asking the BCP for information on supervisory actions linked to Atlas.

La Tribuna also said that request on Atlas focuses on audits, administrative actions and criminal cases related to trust business and fiduciary structures. Another note from the same outlet added that Deputies also requested reports on alleged money laundering and criminal cases linked to the bank. Crónica, for its part, said the lower chamber approved a resolution requiring the BCP to send documented background within 15 business days and tied Atlas to criminal cases under investigation.

What about IPS loans?

The Senate has another inquiry on its agenda for the BCP and the Superintendence of Banks to determine whether, from 2020 to the present, they received questions, communications, complaints, reports or requests for opinions about IPS loan disbursement mechanisms through banks. The filing is part of financial system oversight and seeks to clarify what background the watchdogs have on record.

ABC Color reported that the proposal aims to determine whether there were any interventions or statements on that collection and disbursement scheme, as the upper chamber again put several regulator actions under scrutiny. The request is still on the legislative agenda and has not, for now, been answered by the BCP or the Superintendence.

What other requests are moving in parallel?

The Senate is also reviewing other questions about financial institutions and their supervision. The agenda includes requests on Ueno Bank, cyberfraud, bank mergers and the BCP’s response to different complaints, according to the outlets cited by Paraguayan media.

Within that package, the upper chamber has kept alive the debate over the regulator’s response to private banks and complaints related to its oversight, while preparing new formal requests to expand the available information.