The Institute for Religious Works, or ‘Vatican bank’. (File Photo/CNA).
Rome Newsroom, Aug 23, 2022 / 05:51 am (CNA).
Pope Francis has ordered that the Holy See and connected entities move all financial assets to the Institute for Works of Religion (IOR), commonly known as the Vatican bank.
The pope’s rescript, issued Aug. 23, clarifies the interpretation of a paragraph in the new constitution of the Roman Curia, Praedicate Evangelium, promulgated in March.
According to Francis’ rescript, financial and liquid assets held in banks other than the IOR must be moved to the Vatican bank within 30 days of Sept. 1, 2022.
The IOR, based in Vatican City State, has 110 employees and 14,519 clients. As of 2021, it looked after 5.2 billion euros ($5.6 billion) of client assets.
Though commonly called a “bank,” the IOR is technically a financial institute, with no branches, working within Vatican City State to provide services to clients, which include the Holy See and connected entities, religious orders, clergy, Catholic institutions, and Holy See employees.
The IOR saw its number of clients decline by 472, from 14,991 clients at the end of 2020 to 14,519 in 2021. Nearly half of its clients in 2019 were religious orders.
According to its annual report, the financial institution’s $19 million net profit in 2021 was also down from $44 million in 2020 and $46 million in 2019.
In his Aug. 23 rescript, Pope Francis said article 219, paragraph 3 of Praedicate Evangelium “must be interpreted to mean that the activity of asset manager and custodian of the movable patrimony of the Holy See and of the Institutions connected with the Holy See is the exclusive responsibility of the Institute for Works of Religion.”
The decree will force Holy See institutions, including the Secretariat of State, to move their financial assets to the IOR by the end of September. The Secretariat of State is known to have had accounts in Swiss financial institutions, including Credit Suisse, through which the controversial London building investment was initially carried out.
Article 219, paragraph 3 of the new curial constitution says: “The execution of the financial transactions referred to in §§ 1 and 2 is carried out through the Institute for the Works of Religion,” the IOR.
The financial transactions described in paragraphs 1 and 2 of article 219 are the administration and management of the Holy See’s real estate and movable assets and entities entrusting their assets to the Holy See.
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Volunteer drivers in Ukraine, working with the Vulnerable People Project evacuate vulnerable populations from war-torn areas of Ukraine. / Courtesy of Vulnerable People’s Project
Boston, Mass., Mar 10, 2022 / 06:52 am (CNA).
Jason Jones has a saying he often repeats to his staff at the humanitarian organization he founded, The Vulnerable People Project.
“The vulnerable are not weak people,” he says. “They’re strong people that have been placed in impossible situations.”
The Vulnerable People Project (VPP), which Jones describes as a Catholic apostolate animated by Catholic social teaching, was launched last year to respond to one such “impossible” situation: the humanitarian crisis that erupted after the U.S. military pulled out of Afghanistan, which quickly fell to the Taliban.
Now VPP is helping people escape another dire emergency: the Russian invasion of Ukraine.
“We’re seeing the people of Ukraine stuck between these two powerful actors, the same way the people of Afghanistan were trapped between the United States and Taliban,” Jones, a Catholic film producer, speaker, author and activist, told CNA.
VPP is still helping to evacuate Christians and other minorities from Afghanistan every week, Jones said.
Now the organization is doing similar work in Ukraine, where Jones says it has transported thousands of people away from the fighting and destruction.
Many of them have Aleksi Voronin to thank for that.
The 35-year-old native of Kyiv manages a team of drivers, himself among them, who voluntarily take residents of Kyiv and Kharkiv, major Ukrainian cities now in the crosshairs of Russian forces, to the relative safety of western Ukraine or across the border into Poland.
Volunteer drivers in Ukraine, working with the Vulnerable People Project evacuate vulnerable populations from war-torn areas of Ukraine. Courtesy of Vulnerable People Project
The drivers are mostly driving vans but some passenger vehicles, as well. With the vans, Voronin said, up to a dozen passengers can be evacuated. He told CNA he’s working on getting a bus which could evacuate 50 people.
The vans are tightly packed, but Voronin says that he tries to provide the people with blankets to at least give them “minimal comfort.” He estimates that he’s helped evacuate more than 200 people, so far.
“I cannot find the right words to explain the condition of people when I pick them up,” Voronin told CNA, fighting back tears.
Providential connections
Because of VPP’s success in Afghanistan, a Ukrainian friend of Jones asked him to help rescue some family members from the Ukraine following the invasion. As a result, VPP’s newest humanitarian effort, Hope for Ukraine, was born.
Jones doesn’t speak Ukrainian, though. So getting in touch with Ukrainians on the ground posed difficulties, he said.
But as providence would have it, one of Jones’ friends is Los Angeles comedian Irina Skaya, a Ukrainian-born American.
“Jason said, ‘Look, we’ve been working with Afghanistan, but now this is a crisis.’ So he knew that I was super connected in Ukraine on the ground and we started evacuations,” Skaya, who is leading Hope for Ukraine, told CNA.
Irina Skaya temporarily put aside her stand up comedy career in order to volunteer full time for the Vulnerable People Project by leading Ukraine for Hope. Vulnerable People Project
Skaya, who speaks Russian, Ukrainian, and English fluently, has about 200 relatives in Ukraine. Through her contacts, she was put in touch with Voronin.
Skaya had a comedy show planned in Kyiv Feb. 25-26, but that was canceled due to the Russian invasion on Feb. 24. She was supposed to be the opening act for Louis C.K. a popular American comedian.
Skaya said she always thought her purpose in life was to do comedy.
“Comedy is great. I love comedy. And when this is over, I’m gonna perform in Ukraine and try to bring as many American comedians into Ukraine as I can,” she said.
But war has reordered her priorities. “My absolute life purpose now,” she said, “is to defend my country, to save my country, to save my people.”
How to help
Jones says that Hope for Ukraine has about 100 Ukrainian volunteers, with other volunteers coming from Poland, Ireland, the United States, and elsewhere.
Even a volunteer-driven humanitarian effort is expensive, however. Keeping Aleksi Voronin’s passenger vans and other vehicles on the road gets more costly by the day, due to rapidly rising fuel prices.
Jones told CNA that VPP has raised $15,000 for Hope for Ukraine, but has spent about $50,000 buying resources.
The organization’s response to the invasion will soon include an ambulance and a trauma team of four Emergency Medical Technicians, or EMTs, one critical care paramedic, and two ambulance drivers.
Leading the team will be Andrew Hamilton, 23, a Virginia resident who has worked as an EMT at a construction site and has served as a combat medic while he volunteered with Kurdish military units in northern Syria.
Hamilton, a devout Christian, told CNA his mission is to support the Ukrainian people and if a wounded person needs his care, “they’ll receive the best medical treatment possible.”
Donations to VPP’s Hope for Ukraine initiative can be made online at TheGreatCampaign.org. Jones said he has secured a $200,000 matching gift grant, if the organization can raise $200,000 on its own.
Somehow, Jones said, VPP will meet that goal. “We seek to stand with those who have been abandoned because it’s dangerous to serve them, or because it comes at a social cost,” he said. “When everyone else flees, that’s when we show up.”
Vatican City, Mar 18, 2018 / 04:24 pm (CNA).- Margaret, the fictional stray cat adopted by a fictional Pope in a new children’s book series, gets an up-close and personal look at the Vatican and the Papal office that most Catholics could only ima… […]
Vatican City, Jan 9, 2018 / 06:34 am (CNA/EWTN News).- Earlier this week the Vatican published Pope Francis’ liturgical schedule for the months of January and February, which include his lineup of celebrations for the start of Lent, which this year begins Feb. 14.
With his trip to Chile and Peru taking place Jan. 15-22, the Pope’s usual schedule of morning Masses at Santa Marta and his Wednesday general audience Jan. 17 will be suspended.
Following his return to Rome, Francis will celebrate Second Vespers at the Basilica of St. Paul Outside the Walls Thursday, Jan. 25. The prayer service will mark the Feast of the Conversion of St. Paul, as well as the 51st annual Week of Prayer for Christian Unity.
The following Sunday, Jan. 28, Pope Francis will celebrate a special Mass at the Basilica of St. Mary Major for the Feast of the transfer of the icon of Salus Populi Romani.
Salus Populi Romani (Protectress of the Roman People) is the title of an ancient Byzantine icon of Mary and the Child Jesus, traditionally held to be painted by St. Luke the Evangelist and to have arrived in Rome in the 6th century.
It was first canonically crowned in 1838 by Pope Gregory XVI and a second time in 1954 by Pope Pius XII. It has a long history of devotion by the Roman people, as well as by popes. It resides in the Pauline, also called Borghese, Chapel in St. Mary Major.
Francis has a special devotion to the image. His first visit as pontiff was to the Basilica of St. Mary Major to pray before the image following his election.
On Feb. 2, Pope Francis will celebrate Mass at St. Peter’s Basilica for the Feast of the Presentation of the Lord.
As it will also be the 22nd World Day of Consecrated Life, the Mass will be celebrated with the members of the Congregation for Institutes of Consecrated Life and Societies of Apostolic Life, the Vatican department which oversees religious orders and congregations and secular institutes.
As is tradition, on Ash Wednesday, which falls this year on Feb. 14, Pope Francis will pray the Stations of the Cross at St. Anselm Church on Rome’s Aventine Hill, before processing the short way to the Basilica of Santa Sabina for the celebration of Mass, benediction, and the imposition of ashes.
The following Sunday, Feb. 18, he will begin his annual Lenten retreat with members of the Roman Curia. The week of spiritual exercises will take place at the Casa Divin Maestro in Ariccia, a town just 16 miles outside of Rome.
Located on Lake Albano, the retreat house is just a short way from the papal summer residence in Castel Gandolfo. It will be the fifth consecutive year the Pope and members of the Curia have held their Lenten retreat at the house in Ariccia.
While the practice of the Roman Pontiff going on retreat with the heads of Vatican dicasteries each Lent began some 80 years ago under the pontificate of Pius XI, it was customary for them to follow the spiritual exercises on Vatican ground. Beginning in Lent 2014, Pope Francis chose to hold the retreat outside of Rome.
A medieval battlement with cannons the Vatican Bank draws all incomes [connected entities] into its protective bowels per command of the Vatican’s supreme Commandant. What would Larry Chapp say?
With little knowledge of the financial goings on of the Vatican, the recent absolution, blessing, elevation of scandal ridden Cardinal Angelo Becciu it’s likely Chapp would have a say about it. What, I could only guess. Although listening and watching with interest last night to Marcus Grodi’s Journey Home interview of Chapp the opinion would still be just that. Larry Chapp has a very impressive, complex background calling himself as a youth a bookish upstart, who left Catholicism, turned to science for facts and truth demanding verifiable answers, eventually convinced by Evangelism there was some truth to scripture. The rest well known his return to Catholicism, years of professorship, finally finding a more vivacious, satisfying expression of Catholicism in the thought and life of Dorothy Day and the Catholic Workers movement. Outrageous to many conservatives [he calls Trads] later vindicated. Since the presumption that Day was a Marxist type, as Chapp articulated she has been vindicated by her being declared a servant of God.
Personally, Larry Chapp’s views of the Church and Catholicism became clearer and quite edifying through his contribution of essays to CWR.
Exactly my question! CATHOLIC WORLDVREPORT: Your article is unfinished without an explanation for WHY the Pope is doing this. Will be watching and looking for answers here and elsewhere
It’s simply greed… most assets are donations to the poor, sick and to assist the peoples parishes… maybe they should give more than 1.5% of charitable collections to who the people intend it for.. I won’t be putting any more money into the church.. it’s no longer doing Gods work!!
Exactly.
Civil war in the USA will coincide with the rigging of the mid term elections.
European Countries will erupt in civil disobedience due to limited gas supply and exploding costs sends business to the wall.
And we have the inflationary issue, resulting in raising interest rates, which then collapses the property bubble, sending mortgagees and possibly banks broke.
It’s all happening now, and the Vatican is smart to demand repatriation of all financial assets to convert into hard assets like Gold, and store it in their depositary.
Given the impending collapse of the American, and other national, economies, I understand why Francis has chosen to recall all liquid assets to Rome. The world is on the verge of a global take-over of all wealth for redistribution, and the current war on Christianity means a repeat of the 20th Century persecution of religious institutions. Confiscation, nationalization are both terms the Holy See is familiar with.
What role does a general play in the Weaponization of the US Feds. (FBI, USDOJ, etc) against American Nationalists ? In Marxist Iowa, the facts & evidence demonstrate they co-opted State officials into this GASLIGHTING op: http://www.youtube.com/user/kornkobiowa
A medieval battlement with cannons the Vatican Bank draws all incomes [connected entities] into its protective bowels per command of the Vatican’s supreme Commandant. What would Larry Chapp say?
With little knowledge of the financial goings on of the Vatican, the recent absolution, blessing, elevation of scandal ridden Cardinal Angelo Becciu it’s likely Chapp would have a say about it. What, I could only guess. Although listening and watching with interest last night to Marcus Grodi’s Journey Home interview of Chapp the opinion would still be just that. Larry Chapp has a very impressive, complex background calling himself as a youth a bookish upstart, who left Catholicism, turned to science for facts and truth demanding verifiable answers, eventually convinced by Evangelism there was some truth to scripture. The rest well known his return to Catholicism, years of professorship, finally finding a more vivacious, satisfying expression of Catholicism in the thought and life of Dorothy Day and the Catholic Workers movement. Outrageous to many conservatives [he calls Trads] later vindicated. Since the presumption that Day was a Marxist type, as Chapp articulated she has been vindicated by her being declared a servant of God.
Personally, Larry Chapp’s views of the Church and Catholicism became clearer and quite edifying through his contribution of essays to CWR.
Papa’s big shopping excursion?
Hello! What is the reason or reasons, that the Pope wants financial assets brought to the Vatican by the end of September?
Exactly my question! CATHOLIC WORLDVREPORT: Your article is unfinished without an explanation for WHY the Pope is doing this. Will be watching and looking for answers here and elsewhere
I read the article and it said the dictate came about in March though this is not a new dictate.
It’s simply greed… most assets are donations to the poor, sick and to assist the peoples parishes… maybe they should give more than 1.5% of charitable collections to who the people intend it for.. I won’t be putting any more money into the church.. it’s no longer doing Gods work!!
Because they know of the doom from the economic collapse that’s about to unfold. Here it comes, brace yourself. By food now while you can.
Exactly.
Civil war in the USA will coincide with the rigging of the mid term elections.
European Countries will erupt in civil disobedience due to limited gas supply and exploding costs sends business to the wall.
And we have the inflationary issue, resulting in raising interest rates, which then collapses the property bubble, sending mortgagees and possibly banks broke.
It’s all happening now, and the Vatican is smart to demand repatriation of all financial assets to convert into hard assets like Gold, and store it in their depositary.
The world is on tilt.
Cashless system on the way and all money back to vatican asap .
That’s exactly in line with Joe Biden’s Executive Order 14067.
Given the impending collapse of the American, and other national, economies, I understand why Francis has chosen to recall all liquid assets to Rome. The world is on the verge of a global take-over of all wealth for redistribution, and the current war on Christianity means a repeat of the 20th Century persecution of religious institutions. Confiscation, nationalization are both terms the Holy See is familiar with.
What role does a general play in the Weaponization of the US Feds. (FBI, USDOJ, etc) against American Nationalists ? In Marxist Iowa, the facts & evidence demonstrate they co-opted State officials into this GASLIGHTING op: http://www.youtube.com/user/kornkobiowa