National Catholic Reporter

The Independent News Source

Institute for the Works of Religion

Vatican bank issues detailed report, including where it stores its gold

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One week after publishing highlights of its 2013 financial statement, the Institute for the Works of Religion -- commonly called the Vatican bank -- released a 107-page, detailed financial report for the year.

The first statement, released July 8, said the institute's net profit for 2013 was only 2.9 million euros ($3.9 million) compared to 2012 net profits of 86.6 million euros ($117.7 million).

Vatican financial watchdog signs accord with U.S. Treasury Department

In its latest bid to tackle corruption and increase transparency, the Vatican's financial watchdog has signed a bilateral accord to exchange information with its counterpart in the U.S.

On Monday, officials with the Financial Information Authority announced it endorsed the agreement with the Office of the Comptroller of the Currency, an independent body in the U.S. Treasury Department responsible for regulating and supervising domestic and foreign banks.

Pope Francis confirms continuing existence of Vatican bank

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Pope Francis, accepting the recommendations of his international Council of Cardinals and other advisory groups, has decided the Vatican bank will continue to exist and has approved a plan to increase its transparency and accountability.

The Vatican press office issued a statement Monday saying the pope "has approved a proposal on the future" of the Institute for the Works of Religion, the formal title of the bank. The Vatican, however, did not release details of the proposal.

Vatican police foil scam artists' attempt to enter into Vatican bank

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Vatican security officers stopped two men -- one American and one Dutch -- trying to enter the Vatican bank with a briefcase full of fake bonds.

Officers with the Vatican gendarme corps intercepted the two men Saturday when the men approached a guarded entrance and asked to be let into the Vatican bank, known formally as the Institute for the Works of Religion.

According to Vatican Radio, the men did not have Vatican bank accounts and they did not have an appointment with anyone at the bank.

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