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New European report on Vatican banking procedures due in December

Catholic World News - April 10, 2013

European banking examiners plan to issue a new report on Vatican financial procedures in December.

Last year the “Moneyval” committee, which appraises banking systems for their compliance with European standards guarding against money-laundering, issued a report that indicated that Vatican had made major steps toward full compliance, but still needed improvement in some areas. The December report from the Moneyval committee will cover the Vatican’s efforts to make those improvements.

Vatican banking officials have emphasized their determination to meet the Moneyval standards for transparency and to gain full approval for Vatican banking procedures.

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