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!

Progress toward our January expenses ($19,764 to go):
$35,000.00 $15,235.70
56% 44%
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
Click here to advertise on CatholicCulture.org
Shop Amazon

Recent Catholic Commentary

Church Fathers: St. Polycarp and St. Papias January 24
On News Both Good and Fun January 23
Guess who thinks Pope Francis shouldn't give so many interviews? January 23
A rare “win” in the Venerable League: Laity 4, Priests and Religious 3 January 23
The Didache Bible Is Here January 21

Top Catholic News

Most Important Stories of the Last 30 Days
Pope Francis names 20 new cardinals CWN - January 5
In ‘state of the world’ address, Pope decries ‘throwaway culture’ CWN - January 12