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The Institute for the Works of Religion ( it, Istituto per le Opere di Religione; la, Institutum pro Operibus Religionis; abbreviated IOR), commonly known as the Vatican Bank, is a financial institution situated inside
Vatican City Vatican City (), officially the Vatican City State ( it, Stato della Città del Vaticano; la, Status Civitatis Vaticanae),—' * german: Vatikanstadt, cf. '—' (in Austria: ') * pl, Miasto Watykańskie, cf. '—' * pt, Cidade do Vati ...
and run by a Board of Superintendence which reports to a Commission of Cardinals and the
Pope The pope ( la, papa, from el, πάππας, translit=pappas, 'father'), also known as supreme pontiff ( or ), Roman pontiff () or sovereign pontiff, is the bishop of Rome (or historically the patriarch of Rome), head of the worldwide Cathol ...
. It is not a private bank, as there are no owners or shareholders, but it has been established in the form of a juridical canonical foundation, pursuant to its Statutes. Since 9 July 2014, its President is Jean-Baptiste de Franssu. The IOR is regulated by the Vatican's financial supervisory body AIF (''Autorità di Informazione Finanziaria''). The Institute was founded by papal decree of Pope Pius XII in June 1942. In June 2012, the IOR gave a first presentation of its operations. In July 2013, the Institute launched its own website. On 1 October 2013 it also published its first-ever annual report. On 24 June 2013,
Pope Francis Pope Francis ( la, Franciscus; it, Francesco; es, link=, Francisco; born Jorge Mario Bergoglio, 17 December 1936) is the head of the Catholic Church. He has been the bishop of Rome and sovereign of the Vatican City State since 13 March 2013. ...
created a special investigative Pontifical Commission (CRIOR) to study IOR reform. On 7 April 2014, Pope Francis approved respective recommendations on the IOR's future which were jointly developed by the CRIOR and COSEA commissions and the IOR's management. "The IOR will continue to serve with prudence and provide specialized financial services to the Catholic Church worldwide", as the Vatican release stated. On 7 April 2014, Pope Francis approved a proposal on the Institute's future, "reaffirming the importance of the IOR’s mission for the good of the Catholic Church, the Holy See and the Vatican City State".


Origin and mission

The Istituto per le Opere di Religione (IOR) was founded on 27 June 1942 by Pope Pius XII. It absorbed the ''Amministrazione per le Opere di Religione'' (Administration of the Works of Religion), which had originated in the Commission for Works of Charity (''Commissione ad pias causas'') established by
Pope Leo XIII Pope Leo XIII ( it, Leone XIII; born Vincenzo Gioacchino Raffaele Luigi Pecci; 2 March 1810 – 20 July 1903) was the head of the Catholic Church from 20 February 1878 to his death in July 1903. Living until the age of 93, he was the second-old ...
on 11 February 1887.''Annuario Pontificio'' 2012, p. 1908 The IOR is not a department of the Roman Curia, the central administrative structure of the
Roman Catholic Church The Catholic Church, also known as the Roman Catholic Church, is the largest Christian church, with 1.3 billion baptized Catholics worldwide . It is among the world's oldest and largest international institutions, and has played a ...
. Nor is it a
central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...
.This central banking function of the Vatican is regulated by the Monetary Agreement between the European Union and the Vatican City State
Monetary Agreement between the European Union and the Vatican City State
authorizing the use of the
euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
as the official currency of Vatican City. Implementation of that Agreement and oversight of the Vatican law against money laundering and financing of terrorism is in the hands of the Financial Information Authority established by Pope Benedict XVI on 30 December 2010
Motu proprio for the prevention and countering of illegal activities in the area of financial dealings
The purpose of the IOR is "to provide for the safekeeping and administration of movable and immovable property transferred or entrusted to it by physical or
juridical person A juridical person is a non-human legal person that is not a single natural person but an organization recognized by law as a fictitious person such as a corporation, government agency, NGO or International (inter-governmental) Organization (suc ...
s and intended for works of religion or charity". In 2014, the Vatican officially confirmed the IOR's mission as provider of "specialized financial services to the Catholic Church worldwide." Furthermore, it was affirmed by the Vatican that the "valuable services that can be offered by the Institute assist the Holy Father in his mission as universal pastor and also aid those institutions and individuals who collaborate with him in his ministry".


Organization

According to its Statutes, in effect since 2019, the IOR is composed of four bodies: A Commission of Cardinals with five members, appointed for renewable five-year terms, who elect their president. As announced on 21 September 2020 the Commission's members, appointed for two years ''ad experimentum'', are: *
Santos Abril y Castelló Santos Abril y Castelló (born 21 September 1936) is a Spanish prelate of the Catholic Church. After a career in the diplomatic corps of the Holy See, he held a number of positions in the Roman Curia and from 2011 to 2016 was Archpriest of the ...
, Archpriest of the Basilica of St. Mary Major – President *
Christoph Schönborn Christoph Maria Michael Hugo Damian Peter Adalbert Graf von Schönborn, O.P. (; born 22 January 1945) is a Bohemian-born Austrian Dominican friar and theologian, who is a cardinal of the Catholic Church. He serves as the Archbishop of Vienna and ...
, Archbishop of Vienna *
Luis Antonio Tagle Luis Antonio Gokim Tagle ( ; ; born June 21, 1957) is a Filipino prelate of the Catholic Church currently serving as the Pro-Prefect for the Section of Evangelization of Dicastery for Evangelization (formerly the Congregation for the Evangel ...
, Prefect of the Congregation for the Evangelization of Peoples *
Konrad Krajewski (Mercy) , coat_of_arms = Coat of arms of Konrad Krajewski (Cardinal).svg , ordination = 11 June 1988 , ordained_by = Władysław Ziółek , consecration = 17 September 2013 , consecrated_by = Giuseppe Bertello , cardinal = 28 June 2018 , c ...
, Papal Almoner *
Giuseppe Petrocchi Giuseppe Petrocchi (born 19 August 1948) is an Italian Roman Catholic prelate who has served as the Archbishop of L'Aquila since 2013. Pope Francis made him a cardinal on 28 June 2018. Life Giuseppe Petrocchi was born on 19 August 1948 in Asc ...
, Archbishop of L'Aquila
Pietro Parolin Pietro Parolin OMRI (, ; born 17 January 1955) is an Italian prelate of the Catholic Church. A cardinal since February 2014, he has served as the Vatican's Secretary of State since October 2013 and a member of the Council of Cardinal Advisers sin ...
's office of Secretary of State was omitted from the new Commission. The Prelate of the IOR, Mgr. Battista Ricca, appointed by the Supervisory Commission of Cardinals with the Pope's approval, acts as secretary of the Commission and attends meetings of the Board of Superintendence. A Board of Superintendence, defining the strategy and ensuring oversight of operations. The mandate of the current members of the Board of Superintendence expired in December 2020. *Jean-Baptiste de Franssu, President *Mauricio Larrain, Vice-President *Sir Michael Hintze *Scott C. Malpass *Javier Marín Romano *Georg Freiherr von Boeselager A Directorate, in charge of operational activities and accountable to the Board of Superintendence.


Controversies


Historical allegations

When the Holy See, whose tax-exempt status on income from Italian investments was revoked in 1968, decided to diversify its holdings, it employed as financial adviser
Michele Sindona Michele Sindona (; 8 May 1920 – 22 March 1986) was an Italian banker and convicted felon. Known in banking circles as "The Shark", Sindona was a member of Propaganda Due (#0501), a secret lodge of Italian Freemasonry, and had clear connecti ...
. Once among the country's most powerful businessmen, subsequent investigations into his business affairs brought to light questionable associations with the Mafia as well as the secret P2, a bogus "Masonic" lodge that the Italian Parliament branded as a subversive organization. The 1974 failure of Sindona's Franklin National Bank and the subsequent collapse of his financial empire, into which he had channeled part of the Holy See's investments, entailed losses for the Vatican estimated by one source at 35 billion Italian lire (£20 million).Spotts, Frederic and Wieser, Theodor. ''Italy: A Difficult Democracy'', Cambridge University Press, 1986
In 1982, a political and financial scandal connected with the collapse of
Banco Ambrosiano Banco Ambrosiano was an Italian bank that collapsed in 1982. At the centre of the bank's failure was its chairman, Roberto Calvi, and his membership in the illegal former Masonic Lodge Propaganda Due (aka P2). The Vatican-based Institute for t ...
involved the head of IOR from 1971 to 1989, Archbishop Paul Marcinkus, who allegedly had given "letters of patronage" on behalf of the IOR in support of the failed bank. In 1987, an Italian court issued a warrant against Marcinkus, whom they accused of being an accessory to fraudulent bankruptcy. Marcinkus evaded arrest by staying inside Vatican City until the warrant was dismissed in 1991, whereupon he returned to his home country, the United States. Chairman of the Banco Ambrosiano and member of the illegal Masonic lodge P2,
Roberto Calvi Roberto Calvi (13 April 1920 – 17 June 1982) was an Italian banker, dubbed "God's Banker" () by the press because of his close association with the Holy See. He was a native of Milan and was chairman of Banco Ambrosiano, which collapsed in ...
was convicted of violating Italian currency laws and fled on a false passport to London where he was found murdered under Blackfriars Bridge in London some days after he went missing from Milan. The Istituto per le Opere di Religione, then a 10% shareholder of Banco Ambrosiano, denied legal responsibility for the Banco Ambrosiano's downfall but acknowledged "moral involvement", and paid US$224 million to creditors. Several works published during the 1980s and 1990s were highly critical of the Institute for the Works of Religion's historical relations with anti-communist
government A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is ...
s. Tony Abse, writing in '' The Weekly Worker'', an organ of the Communist Party of Great Britain, has said that the CIA used the Institute for the Works of Religion to funnel funds to the Solidarity Polish trade union "as part of the final offensive against the Soviet Union". The organization American Atheists says covert United States funds were channelled in the same way both to Solidarity and to Contra guerrillas. '' Alperin v. Vatican Bank'' was a
class action A class action, also known as a class-action lawsuit, class suit, or representative action, is a type of lawsuit where one of the parties is a group of people who are represented collectively by a member or members of that group. The class actio ...
suit by
Holocaust survivors Holocaust survivors are people who survived the Holocaust, defined as the persecution and attempted annihilation of the Jews by Nazi Germany and its allies before and during World War II in Europe and North Africa. There is no universally accep ...
against the Institute for the Works of Religion filed in
San Francisco, California San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...
on 15 November 1999. The case was dismissed as a
political question In United States constitutional law, the political question doctrine holds that a constitutional dispute that requires knowledge of a non-legal character or the use of techniques not suitable for a court or explicitly assigned by the Constitution ...
by the District Court for the Northern District of California in 2003, but reinstated in part by the
Ninth Circuit Court of Appeals The United States Court of Appeals for the Ninth Circuit (in case citations, 9th Cir.) is the U.S. federal court of appeals that has appellate jurisdiction over the U.S. district courts in the following federal judicial districts: * District ...
in 2005. That ruling has attracted attention as a precedent at the intersection of the
Alien Tort Claims Act The Alien Tort Statute ( codified in 1948 as ; ATS), also called the Alien Tort Claims Act (ATCA), is a section in the United States Code that gives federal courts jurisdiction over lawsuits filed by foreign nationals for torts committed in viol ...
(ATCA) and the
Foreign Sovereign Immunities Act The Foreign Sovereign Immunities Act of 1976 (FSIA) is a United States law, codified at Title 28, §§ 1330, 1332, 1391(f), 1441(d), and 1602–1611 of the United States Code, that established criteria as to whether a foreign sovereign nation ( ...
(FSIA). The complaint against the Vatican Bank was dismissed in 2007 on the basis of
sovereign immunity Sovereign immunity, or crown immunity, is a legal doctrine whereby a sovereign or state cannot commit a legal wrong and is immune from civil suit or criminal prosecution, strictly speaking in modern texts in its own courts. A similar, stronger ...
.


Judicial events and reorganisation (2010–2018)

In September 2010, Italian magistrates seized €23 million from the IOR, on the grounds that the anti- money laundering laws in force had been violated. The money was originally to be transferred from the Italian Credito Artigiano to
JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
and another Italian bank, . Both the origin and destination of the funds were accounts under the control of the IOR. It was furthermore declared that Gotti Tedeschi and another IOR manager were under investigation for money laundering charges. On 31 May 2011, Rome's attorney general released the €23 million in assets which had been seized in September, apparently in acknowledgment of the steps taken in the following months to conform the Institute to international standards. On 24 May 2012, Ettore Gotti Tedeschi was ousted as Head of the Vatican Bank because of his alleged "failure to fulfill the primary functions of his office". In July 2013, the money laundering case against Gotti Tedeschi was dropped. In March 2014, he was again acquitted by the Roman court that followed the public prosecutor's position and relieved Gotti Tedeschi from any responsibility in that operation. On 15 June 2013, with the approval of Pope Francis, the Cardinals' Commission appointed Monsignor
Battista Mario Salvatore Ricca Battista Mario Salvatore Ricca (born 22 January 1956) is prelate of the Vatican Bank The Institute for the Works of Religion ( it, Istituto per le Opere di Religione; la, Institutum pro Operibus Religionis; abbreviated IOR), commonly known as t ...
as the Institute's Prelate ad interim. There was also speculation that opponents of reform might have withheld information about possible scandals in Ricca's past or that they might have made up unfounded rumours about Ricca's past. It was reported that Ricca had offered his resignation because of the controversy, but the head of the Holy See's Press Office declared the accusations as "not credible" and Pope Francis himself informed journalists that an inquiry "found nothing". On 28 June 2013, three persons were arrested by the Italian police on suspicion of corruption and fraud. Allegedly, they had planned to smuggle €20 million in cash from Switzerland into Italy. One of the arrested was Monsignore Nunzio Scarano, previously senior accountant at APSA, the Vatican's
Administration of the Patrimony of the Apostolic See The Administration of the Patrimony of the Apostolic See (APSA; it, Amministrazione del Patrimonio della Sede Apostolica, link=no) is the office of the Roman Curia that deals with the "provisions owned by the Holy See in order to provide the fun ...
. Subsequently, he was indicted with corruption and slander and set under house arrest. On 21 January 2014, he was further charged with money laundering through IOR accounts in yet another investigation. According to a police statement, millions of euros in "false donations" from offshore companies had moved through Scarano's accounts. Already in July 2013, the IOR had frozen the money in Scarano's accounts. As news agency Reuters reported, Elena Guarino, the Salerno magistrate who led the investigation, told reporters "the Vatican was fully cooperative and gave her much information on Scarano's bank movements.". In January 2016, Scarano was acquitted of allegations of corruption, but was given a two-year sentence after being convicted of lesser charges of making false allegations.Reuters
/ref> His money laundering trial in his hometown of Salerno was still pending at this time. The other person arrested was a bank person and a former secret service agent. In February 2017, A court in Rome convicted two former top Vatican Bank officials Paolo Cipriani and Massimo Tulliof for omissions in communications involving three small transfers. Cipriani was a former Vatican bank director and Tulliof was Cipriani's former deputy. They were, however, acquitted of a more serious money laundering charge, which involved $60 million in transfers, and were sentenced to four months and ten days in prison. They were also forced to return $6,000 each. In 2018, Vatican prosecutors indicted former Vatican Bank President Angelo Caloia, and an attorney, Gabriele Liuzzo, for embezzling $62 million, using a real estate scam, between 2001 and 2006. The trial is still pending.


Process of reform


Institutional milestones

In August 2019, the IOR was re-structured by a
Chirograph A chirograph is a medieval document, which has been written in duplicate, triplicate or very occasionally quadruplicate (four copies) on a single piece of parchment, with the Latin word ''chirographum'' (occasionally replaced by some other term) ...
of Pope Francis, which established the IOR's present Statutes. According to Article 4 of the Chirograph, the Institute consists of four bodies: A Supervisory Commission of Cardinals, a Board of Superintendence, a Prelate and a Directorate.


Reform steps 2010/2011

On 1 January 2010, a renegotiated monetary agreement between the EU and the Vatican City State entered into force, supplementing the monetary agreement between the Vatican City State and Italy from the year 2000. Having signed the agreement, the Vatican transposed EU legislation on euro counterfeiting and money laundering by the end of 2010 and accepted the European Court of Justice as the only jurisdiction responsible for settling disputes under the agreement. On 30 December 2010,
Pope Benedict XVI Pope Benedict XVI ( la, Benedictus XVI; it, Benedetto XVI; german: link=no, Benedikt XVI.; born Joseph Aloisius Ratzinger, , on 16 April 1927) is a retired prelate of the Catholic church who served as the head of the Church and the soverei ...
established the Vatican's independent Financial Intelligence Authority (''Autorità di Informazione Finanziaria'', AIF) to oversee the monetary and commercial activities of all Vatican-related institutions, including the IOR. The Vatican's so-called "financial watchdog" monitors all Vatican financial operations and ensures they conform with international norms against money-laundering and the financing of terrorism. In June 2011, the Roman prosecutors ordered the release of the seized €23 million that should have been transferred via an IOR account at Credito Artigiano. According to the prosecutors, this request of release was due to the newly instituted mechanisms that should help the Institute to conform to international anti-money laundering and antiterrorist financing standards, such as the AIF's establishment.


Reform steps 2012

In July 2012, Moneyval, the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, published and issued a report on the Vatican City State, by request of the Vatican itself. This was the first time that the Holy See had submitted its institutions and laws to the judgment of an international external auditor. The Italian news magazine ''l'Espresso'' called this "an historic watershed". The Vatican received grades of "compliant" or "largely compliant" on 22 out of 45 guidelines and adhered to international standards in 9 out of the 16 core points. Moneyval stated that the Vatican "has come a long way in a very short period of time" and stated that the city state met the international requirements in 9 out of 16 core topics. At the same time, Moneyval requested further reforms to be enacted The Vatican expressed a goal to get into the so-called OECD white list which includes countries that comply with international anti-money laundering standards and regulations against tax offences. In November 2012, a Swiss anti-money laundering expert, René Brülhart, was appointed director of the AIF. Previously, he had worked for the Financial Intelligence Unit (FIU) in Liechtenstein as well as for the
Egmont Group of Financial Intelligence Units The Egmont Group of Financial Intelligence Units is an international organization that facilitates cooperation and intelligence sharing between national financial intelligence units (FIUs) to investigate and prevent money laundering and terroris ...
.


Reform steps 2013

On 15 February 2013, Ernst von Freyberg was appointed the IOR's President. Since the beginning of his tenure at the IOR, von Freyberg has focused on comprehensively reforming the Institute, stating he would focus on transparency and a "zero tolerance" approach to any suspicious transactions. In May 2013, the international consulting and auditing firm Promontory was assigned a forensic review and screening of the Institute's client relationships. In this context, all accounts of the IOR's 19,000 customers were being checked if they meet the respective criteria. On 24 June 2013,
Pope Francis Pope Francis ( la, Franciscus; it, Francesco; es, link=, Francisco; born Jorge Mario Bergoglio, 17 December 1936) is the head of the Catholic Church. He has been the bishop of Rome and sovereign of the Vatican City State since 13 March 2013. ...
created a Pontifical Commission, often referred to as the CRIOR commission, to review the IOR's status and activities. Its task was to "gather accurate information on the legal status and various activities of the Institute to permit, when necessary, a better harmonization of the said Institute with the universal mission of the Apostolic See". Its five members were
Raffaele Farina Raffaele Farina SDB (born 24 September 1933) is an Italian cardinal of the Catholic Church. He was Archivist of the Vatican Secret Archives, Librarian of the Vatican Library, and president (''Consiglio di Presidenza'') of Scuola Vaticana di Pa ...
(President) Jean-Louis Pierre Tauran, Juan Ignacio Arrieta Ochoa de Chinchetru, Peter Bryan Wells (secretary) and
Mary Ann Glendon Mary Ann Glendon (born October 7, 1938) is the Learned Hand Professor of Law at Harvard Law School and a former United States Ambassador to the Holy See. She teaches and writes on bioethics, comparative constitutional law, property, and human rig ...
. The commission terminated its work in May 2014. In July 2013, the Holy See's Financial Intelligence Authority (AIF), charged with monitoring the monetary and commercial activities of Vatican agencies, was admitted as a full member of the Egmont Group, an international network of
financial intelligence Financial intelligence (FININT) is the gathering of information about the financial affairs of entities of interest, to understand their nature and capabilities, and predict their intentions. Generally the term applies in the context of law enfo ...
units. On 1 October 2013, the IOR published its first ever annual report. The annual report is available for download on the Institute's homepage which was launched in July 2013. The report's figures were audited by the global accounting firm KPMG. According to the report, the Institute in 2012 had a net profit of €86.6 million, of which it has transferred €54.7 million to the budget of the Holy See to help the pope carry out the church's global mission. Both measures – the annual report's publication and the launch of the website – were reviewed as remarkable signs of enhanced transparency and compliance: The Guardian called the website launch a "giant leap" and Reuters named it a "transparency drive". On 12 June 2017 IOR published its fifth annual report, showing net gains of €36 million for the year 2016. Also in October 2013, newspapers reported that the IOR had requested around 1,300 customers to close their IOR accounts. Allegedly, this request was directed at lay account holders, who do not fit into any of the five categories of clients the IOR is legally allowed to have. The closures are said to be a result of the review process conducted by Promontory. On 12 December 2013, Moneyval published its Progress Report that assessed the Holy See's progress made on measures to combat money laundering. It was stated that the IOR has made significant progress but at the same time needed more institutionalized internal controls, especially with regard to the AIF's watchdog function. Overall, the report was rated as the approval of the economic and financial reforms enacted since Pope Francis' taking office.


Reform steps 2014

On 22 January 2014, the IOR published a report on the progress of the compliance and transparency program. IOR President Ernst von Freyberg commented on the release, stating that "it is very possible to reform an institution like the IOR" and that the Institute has "used the past year to create the system and to analyse our customers for possible irregularities". Von Freyberg also stated much work needs to be done as regards transparency and compliance. On 7 April 2014, Pope Francis ruled the IOR will stay operative and approved recommendations on the Institute's future, which were drawn up jointly by the papal commissions CRIOR and COSEA, by the IOR's management and by Australian Cardinal
George Pell George Pell (born 8 June 1941) is an Australian cardinal of the Catholic Church. He served as the inaugural prefect of the Secretariat for the Economy between 2014 and 2019, and was a member of the Council of Cardinal Advisers between 2013 ...
, head of the Vatican's Secretariat for the Economy. The decision was interpreted as a "backing" of the process of reform that had been intensified under Pope Francis and von Freyberg. The IOR itself stated that the Pope's decision "represents a powerful endorsement of our very mission and the hard work accomplished over the past 12 months." Von Freyberg stepped down in July as head of the IOR and Pope Francis named Jean-Baptiste de Franssu to replace him. In September 2014, the Cardinals' Commission of the IOR appointed Mauricio Larraín (Chile) and Carlo Salvatori (Italy) as members to the IOR Board of Superintendence. Other members included Jean-Baptiste de Franssu (France), President of the Board, Clemens Boersig (Germany),
Mary Ann Glendon Mary Ann Glendon (born October 7, 1938) is the Learned Hand Professor of Law at Harvard Law School and a former United States Ambassador to the Holy See. She teaches and writes on bioethics, comparative constitutional law, property, and human rig ...
(USA) and Michael Hintze (UK). In addition to these six lay members of the Board, Monsignor
Alfred Xuereb Alfred Xuereb (born 14 October 1958) is a Maltese prelate of the Catholic Church who has been the Apostolic Nuncio to both South Korea and Mongolia since February 2018. He previously worked in the Roman Curia and was a private secretary to Pop ...
, Secretary-General of the Secretariat for the Economy, served as its non-voting Secretary. From January 2017 additional members added to the board were: Scott C. Malpass (USA), (Spain), and Georg Freiherr von Boeselager (Germany).


See also

*
Administration of the Patrimony of the Apostolic See The Administration of the Patrimony of the Apostolic See (APSA; it, Amministrazione del Patrimonio della Sede Apostolica, link=no) is the office of the Roman Curia that deals with the "provisions owned by the Holy See in order to provide the fun ...
* Christian finance * Economy of the Vatican City * Index of Vatican City-related articles *
Prefecture for the Economic Affairs of the Holy See The Prefecture for the Economic Affairs of the Holy See was an office (a technical category of dicastery) of the Roman Curia, erected on 15 August 1967, and entrusted with overseeing all the offices of the Holy See that manage finances, regardl ...
* Vatileaks * 1832 Rothschild loan to the Holy See * Criticism of the Catholic Church § Financial corruption


Notes


References

;Specific citations ;General references *John F. Pollard: ''Money and the Rise of the Modern Papacy: Financing the Vatican, 1850–1950'' *
Mark Aarons Mark Aarons (born 25 December 1951) is an Australian journalist and author. He was a political adviser to New South Wales Premier Bob Carr. Biography Aarons was born in Newcastle, New South Wales, but he was brought up in Sydney. He was educat ...
and John Loftus: ''Unholy Trinity: How the Vatican's Nazi Networks Betrayed Western Intelligence to the Soviets''. New York: St.Martin's Press, 1992. 372 pages. * Malachi Martin: ''Rich Church, Poor Church'' (Putnam, New York, 1984) * Malachi Martin: ''Vatican'' (Jove (1 August 1988)) *Charles Raw: ''The Moneychangers: How the Vatican Bank Enabled Roberto Calvi to Steal 250 Million Dollars for the Heads of the P2 Masonic Lodge'' (Harvill Press, 1992) *Giancarlo Galli: ''Finanza bianca. La Chiesa, i soldi, il potere'' (Mondadori, 2004) *David A. Yallop: ''In God's Name: An Investigation into the Murder of Pope John Paul I'' *'' Mark Lombardi: Global Networks''. Mark Lombardi, Robert Carleton Hobbs, Judith Richards; Independent Curators, 2003 (published for the travelling exhibition of his work, "Mark Lombardi Global Networks"). *Jonathan Levy, "The Vatican Bank", in Russ Kick (Ed.), ''Everything You Know is Wrong'' (Disinformation Press, 2002) *
Michael Phayer Michael Phayer (born 1935) is an American historian and professor emeritus at Marquette University in Milwaukee and has written on 19th- and 20th-century European history and the Holocaust. Phayer received his PhD from the University of Munich i ...
: ''Pius XII: The Holocaust and the Cold War'', 2008, .


External links

*
Hennelly, Robert. "How Pope Francis turned around troubled Vatican bank", CBS Moneywatch, 25 September 2015
;Criticism

��report on declassified memo in ''
Time Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, ...
'', 22 July 1997
"Vatican Bank describes its own history and operations in Court Document"
from
WikiLeaks WikiLeaks () is an international non-profit organisation that published news leaks and classified media provided by anonymous sources. Julian Assange, an Australian Internet activist, is generally described as its founder and director and ...
{{Authority control Banks of Vatican City Financial scandals Catholic Church and finance