Pope Leo XIV Introduces Reform to Holy See's Investments
Last week, Pope Leo XIV introduced a significant reform to the financial architecture of the Holy See.
With the motu proprio Coniuncta Cura ("Shared Responsibility"), the Holy Father revoked the exclusive right of the Institute for Works of Religion (IOR) for investment management.
The new regulations open the door to the use of other foreign financial intermediaries if deemed more efficient or appropriate.
"If there is a sum to be invested, it was previously done only through the IOR; but now it can also be done through the APSA [Administration of the Patrimony of the Apostolic See]."
The reform aims to allow accredited financial intermediaries to manage investments, rather than removing them from the Vatican's purview.
Author's summary: Pope Leo XIV reforms Holy See's investments.
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