Challenge Grant: Our Boosters will match donations up to $45,000. We have $36,649 to go. Please donate!
Click here to advertise on CatholicCulture.org

Vatican expected to win passing grade from European banking inspectors

Catholic World News - July 16, 2012

European banking inspectors will give the Vatican a satisfactory rating for financial transparency, while suggesting some steps for further reform, the Reuters news service reports.

That report matches predictions made by informed sources earlier this month, when the inspectors from “Moneyval” disclosed that they had completed a preliminary report and given it to Vatican officials. The report will be made public after the Vatican has reviewed it and had an opportunity to clear up any misunderstandings.

The Moneyval inspection, which was requested by the Vatican, is a step toward ensuring that the Vatican complies with tough new European standards for documenting financial transactions, to guard against money-laundering. Like an audit, a Moneyval inspection generally produces some suggestions for improvement.

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!

Our Fall Campaign
Progress toward our year-end goal ($124,738 to go):
$150,000.00 $25,262.05
83% 17%
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.

Fall 2014 Campaign
Subscribe for free
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

The Church Moves On, Slowly October 24
Is Cardinal Kasper losing his grip? October 24
The Pope is not the problem October 23
Do not confuse sacramental discipline and Catholic doctrine. October 23
Ignatius Press into the Breach: Trumping the Kasper Proposal October 22

Top Catholic News

Most Important Stories of the Last 30 Days
Key synod report calls for 'gradualism' in Church response to irregular family situations CWN - October 13
As synod concludes, bishops issue message, approve document; Pope weighs in CWN - October 20
Cardinal Parolin: UN must protect innocents from Islamic State CWN - September 30
Synod of Bishops opens with Mass in St. Peter’s Basilica CWN - October 6