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Vatican reaches banking accord with US

Catholic World News - June 30, 2014

The Vatican’s Financial Information Authority (AIF) has signed an agreement with the US Comptroller of the Currency, providing for cooperation in banking regulations aimed at money-laundering and the financing of terrorism.

Rene Bruelhart, the director of the AIF, hailed the agreement as “a further step” in the drive to bring the Vatican fully into line with international standards for transparency in financial exchanges. “The Holy See is part of the global family of well-regulated jurisdictions and the signing of this agreement reflects that very clearly,” he argued.

The AIF, established in 2010 to supervise Vatican financial affairs, had previously signed cooperative agreements with banking regulators in Italy, France, Spain, Germany, and the United Kingdom.

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