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Pope Francis instructs Vatican entities to move all funds to Vatican bank by Sept. 30

August 23, 2022 Catholic News Agency 18
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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Cardinal Ouellet: Allegations against me are defamatory

August 19, 2022 Catholic News Agency 2
Cardinal Marc Ouellet takes part in the Pontifical Council for Culture’s Plenary Assembly on Women’s Cultures in Rome, Feb. 6, 2015. / Bohumil Petrik/CNA.

Denver Newsroom, Aug 19, 2022 / 10:00 am (CNA).

Cardinal Marc Ouellet, Prefect of the Dicastery for Bishops, on Friday denied having made inappropriate gestures on a woman who has alleged he sexually assaulted her.

“Having become aware of the false accusations made against me by the complainant (F.), I firmly deny having made inappropriate acts on her person and I consider the interpretation and dissemination of these allegations as sexual assaults defamatory,” Ouellet said Aug. 19.

“If a civil investigation should be opened, I will actively participate in it so that the truth is established and my innocence is recognized.”

Ouellet was accused of sexual assault by a woman identified as F. in a civil suit filed against the Archdiocese of Quebec Aug. 16.

He is accused by a woman who says that he assaulted her multiple times while she worked as a pastoral intern for the Quebec archdiocese between 2008 and 2010, while he was Archbishop of Quebec. She described him kissing her and sliding his hand down her back to her buttock.

A Vatican spokesman said Aug. 18 that the conclusion of a preliminary investigation by Father Jacques Servais, SJ, found “that there are no elements to initiate a trial against Cardinal Ouellet for sexual assault.”

The Vatican statement included a quote in French from Servais, who said that “there are no grounds to open an investigation into the sexual assault of F. by Card. M. Ouellet. Neither in his written report sent to the Holy Father nor in the testimony via Zoom that I subsequently took in the presence of a member of the Diocesan Ad Hoc Committee, did this person make an accusation that would provide grounds for such an investigation.”

Vatican spokesman Matteo Bruni added that “following further pertinent consultations, Pope Francis declares that there are insufficient elements to open a canonical investigation for sexual assault by Cardinal Ouellet against person F.”

The class action suit in which the allegations were made includes the testimony of 101 people who say they were sexually assaulted by clerics or Church staff from 1940 to the present. Eighty-eight clerics face accusations in the suit.

The suit says that F. wrote to Pope Francis about Ouellet in January 2021, and she received an email Feb. 23, 2021 had appointed Servais to investigate the cardinal. Her last communication with Servais was the following month, and as of now “no conclusion concerning the complaints against Cardinal Marc Ouellet has been sent” to her.

Ouellet, 78, was ordained a priest of the Diocese of Amos in 1968, at age 23. He joined the Sulpicians in 1972. In 2001 he was appointed secretary of the Pontifical Council for Promoting Christian Unity, and consecrated a bishop.

He served as Archbishop of Quebec from 2002 to 2010, when he was appointed prefect of the Congregation for Bishops and president of the Pontifical Commission for Latin America.

Ouellet has been outspoken about sex abuse, and priestly formation.

At a 2018 meeting of the Presidents of the Bishops’ Conferences of Europe, he said that “We would need participation of more women in (training) of priests” to prevent abuse.

He reiterated this point in a 2020 interview with Donne Chiesa Mondo, saying, “for the priest, learning to relate to women in the context of formation is a humanizing factor which promotes the balance of man’s personality and affectivity.”

The cardinal said he thought the Church would benefit greatly from an increased presence of women on seminary formation teams, as theology, philosophy, and spirituality teachers, and “in particular in vocational discernment.”

Ouellet verbally sparred with Archbishop Vigano as details of Vatican knowledge of Theodore McCarrick emerged in recent years. 

In an October 2018 letter, Ouellet said it was communicated to Vigano in 2011 that McCarrick “had to obey certain conditions and restrictions because of rumors about his behavior in the past,” and that he “was strongly urged not to travel and not to appear in public, in order not to provoke further rumours about him. It is false to present the measures taken against him as ‘sanctions’ decreed by Pope Benedict XVI and annulled by Pope Francis.”

And in January 2019, Ouellet wrote that his congregation had blocked the U.S. bishops from voting on proposals to address the sex abuse crisis in November because it believed more time was needed to discuss the measures.

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