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Pope, Council of Cardinals weigh future of Vatican bank

February 18, 2014

In their 2nd day of deliberations this week, Pope Francis and the Council of Cardinals heard a report on the Vatican bank, the Institute for Religious Works, and discussed the future of that institution.

The Pope and the eight-cardinal council are concentrating their attention this week on financial and administrative questions. At their Tuesday meeting they heard a report from the special pontifical commission set up last year to assess the IOR, and discussed proposals for the future of the Vatican bank.

Briefing reporters about the meetings, Father Federico Lombardi, the director of the Vatican press office, reported that no final decisions about the future of the IOR had been made. He remarked that the discussions had not focused solely on the economic performance of the institution, but had also included considerations about how the Vatican bank should serve the pastoral needs of the Church.


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