Click here to advertise on CatholicCulture.org

European banking inspectors report on Vatican procedures

Catholic World News - July 05, 2012

European banking inspectors have completed their report on the Vatican’s financial procedures, although the contents of that report will not be made public for a month.

Inspectors from the “Moneyval” committee have been assessing the new Vatican regulations on financial transfers, which are intended to ensure compliance with European rules to guard against money-laundering. Last year the Vatican adopted a series of new financial accounting procedures designed to eliminate concerns about transparency.

The procedures of the Moneyval committee allow Vatican officials to respond to the inspectors’ report, with an amended report eventually being made public. Informed observers expect that Moneyval will cite some deficiencies in Vatican procedures, but give the Vatican an overall passing grade for transparency.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Vibrant Catholicism, 1: Lamenting the entire 20th century 5 hours ago
Holding bishops accountable: the next steps May 27
The real story behind the French ambassador's nomination to the Holy See May 27
A joyful noise unto the Lord: Goal met! May 26
De Lubac’s notes on the Second Vatican Council, section 3 May 26

Top Catholic News

Most Important Stories of the Last 30 Days