Pope Francis Decrees that all Funds of the Holy See's Institutions be Transferred to the Vatican Bank

Pope Francis has issued a rescript to indicate that the Institute for the Works of Religion has exclusive rights for managing all of the Holy See’s movable and liquid assets. He has thus, ordered all Holy See dicasteries and entities to transfer all financial assets to the IOR.

 The Institute for the Works of Religion (IOR)—commonly known as the Vatican Bank—shall have exclusive competence over asset management and shall oversee the management of all the movable assets of the Holy See and its related institutions. Pope Francis issued that decree in a rescript published on August 23rd. The rescript concerns Article 219, paragraph 3 of the Constitution on the Roman Curia "Praedicate Evangelium."  For this reason, Holy See and related institutions "that possess financial assets and liquid assets, in whatever form they are held, with financial institutions other than the IOR must inform the IOR and transfer them to it as soon as possible within 30 days from 1 September 2022." 

(Source: Vatican News)

The papal rescript enters into effect immediately:

RESCRIPTUM EX AUDIENTIA SS.MI: Rescript of the Holy Father Francis on the Instruction on the Administration and Management of the financial assets and liquidity of the Holy See and of the Institutions connected with the Holy See

RESCRIPTUM EX AUDIENTIA SS.MI

Instruction on the administration and management of financial assets and liquidity of the Holy See and of the institutions connected with the Holy See.

1. The Holy Father Francis, in the audience granted to the Secretary of State, on 22 August, decided to issue this Instruction on the administration and management of the financial assets and liquidity of the Holy See and of the institutions connected with it.

2. The Holy Father has disposed that it should have the nature of an authentic interpretation of the provisions in force and have firm and stable force, notwithstanding anything contrary even if prior to the Rescript or specifically referring to special things.

3. Article 219, paragraph 3, of the Apostolic Constitution Praedicate Evangelium, issued on 19 March 2022, must be interpreted as meaning that the activity of asset manager and depositary of the movable assets of the Holy See and of the institutions connected with the Holy See it is the exclusive responsibility of the Institute for Works of Religion.

4. The Holy See and the Institutions connected with the Holy See that are holders of financial assets and liquidity, in whatever form they are held, in financial institutions other than the IOR must inform the IOR and transfer them to it as soon as possible within 30 days from 1 September 2022.

5. It enters into force immediately through publication in the Osservatore Romano. Any acts previously adopted in discrepancy must be brought into compliance with these instructions.

FRANCISCUS

(Source: Vatican.va)