The Institute for Works of Religion (IOR), popularly known as the Vatican Bank. / Credit: Vatican Media
Vatican City, Oct 15, 2025 / 07:00 am (CNA).
Lastweek,PopeLeoXIVintroducedasignificantreformtothefinancialarchitectureoftheHolySee.
WiththemotuproprioConiunctaCura,(“SharedResponsibility”)theHolyFatherrevokedtheexclusiverightthattheInstituteforWorksofReligion(IORbyitsItalianacronym)—popularlyknownasthe“VaticanBank”—haduntilthenforinvestmentmanagement,openingthedoortotheuseofotherforeignfinancialintermediariesifdeemedmoreefficientorappropriate.
ThenewregulationsdonotseektoremoveinvestmentsfromtheVaticanpurviewbutrathertoopenthepossibilityofmanagementtoaccreditedfinancialintermediaries.
“Ifthereisasumtobeinvested,itwaspreviouslydoneonlythroughtheIOR;butnowitcanalsobedonethroughtheAPSA[AdministrationofthePatrimonyoftheApostolicSee].Thisdoesnotmeanthatinvestmentswillbemadeoutside[oftheVatican]butratherthatexternalfinancialorganizationscanstepintoassisttheVatican,”MimmoMuolo,anexpertonHolySeefinanc
