Pope establishes commission to review Vatican bank

Pope Francis has created a five-person commission to review the activities and mission of the known as the Vatican bank. The new pontifical commission reflects the Pope's desire to ensure the bank's activities are in harmony with the mission of the universal church and the Apostolic See, says a Vatican statement issued yesterday.

The communique from the Vatican Secretariat of State, said the commission's aim is "to collect information on the running of the Institute" for the Works of Religion, (IoR) the formal name of the Vatican bank, and to then present the results to Pope Francis.

The commission, which has already begun its work, is part of the Pope's larger efforts to reform the central offices of the church, the statement said.

Vatican spokesman Father Federico Lombardi SJ, told reporters yesterday that members of the College of Cardinals had asked the new pope "to work on how the central government of the church works and he's doing so with great commitment, using instruments that he finds helpful to get the information he needs to make his decisions and exercise his responsibilities."

While the bank "will continue to function according to its current statutes," Fr Lombardi said, the papal commission will help the Pope decide if reforms are necessary and whether they are "reforms in the way the bank operates or reforms of other kinds."

The Commission is composed of five people. These include two Americans, Harvard Law Professor Mary Ann Glendon and Monsignor Peter Bryan Wells, of the Vatican Secretariat of State together with Cardinal Raffaele Farina, President, Cardinal Jean-Louis Pierre Tauran, Member and Bishop Juan Ignacio Arrieta Ochoa de Chinchetru, Coordinator.

Fr Lombardi noted that the Commission of five people is not permanent. It will present the report to the Pope and then be dissolved. He also added that no deadline has been set.

The new Pontifical Commission, which will begin its work in the coming days, is not involved in running the Institution. Its main aim will be to study it to help Pope Francis ensure the IOR’s activities are in harmony with the Churches’ mission.

Source: VIS