Two board members resign from Vatican bank
May 25, 2016
Two members of the board of the Vatican bank, the Institute for Religious Works (IOR), have resigned.
The Vatican said that the resignations of Clemens Börsig and Carlo Salvatori were prompted by policy differences that "can be seen in the light of legitimate reflections and opinions concerning the management" of the IOR. The resignations came after the release of an annual report showing a decline in profits for the Vatican bank, related to new, stricter regulations on the accounting of financial affairs.
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