National Catholic Reporter

The Independent News Source

Secretariat for the Economy

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.

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