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Holy See

Pope Francis’ Chirograph for New Statute of Institute for Works of Religion (IOR, or Vatican Bank) (Full Translation)

Here is a working translation of the chirograph of Pope Francis, issued by the Vatican, for the new statutes of the Institute for Works of Religion (IOR), also commonly called the Vatican Bank, published Aug. 8, 2019:

With a Chirograph dated 27 June 1942, our Predecessor of venerable memory, Pope Pius XII, erected the Institute for Works of Religion in the Vatican City, with legal personality, absorbing in it, the pre-existing “Administration for Works of Religion”, whose Statute was it was approved by the Supreme Pontiff on March 17, 1941 and was originally rooted in the “commission ad pias causas ” established by the Supreme Pontiff Leo XIII in 1887.

Furthermore, with a subsequent Chirograph dated January 24, 1944, he established new rules for the Institute’s regime, delegating to the Institute’s Supervisory Commission of Cardinals to propose changes to the Statute of March 17, 1941 which, for the execution of the Chirograph in word, had appeared necessary.

In order to continue to adapt the Institute’s structures and activities to the needs of the times in an ever better way, making particular use of the collaboration and responsibility of competent lay Catholics, I would like to renew the Statutes of the ad experimentum for two years. Institute for Works of Religion, with which St. John Paul II, with a Chirograph dated March 1, 1990, had given a new configuration to this Institute, preserving its name and purpose.

1. The purpose of the Institute is to provide for the custody and administration of movable and immovable property transferred or entrusted to the Institute by natural or juridical persons and destined for works of religion or charity.

2 . The Institute has public canonical legal personality and seat in the Vatican City State.

For any disputes the competent court, as a rule, is that of the Vatican City State.

3 . The Bodies of the Institute are:

– The Commission of Cardinals
– The Prelate
– The Board of Superintendency
– The Management

4 . The Cardinals Commission is composed of five Cardinals appointed ad quinquennium by the Supreme Pontiff and confirmed once.

It monitors the loyalty of the Institute to the statutory norms according to the procedures provided for by the Statute.

5 . The Prelate, appointed by the Commission of Cardinals, follows the activity of the Institute, participates as Secretary in the meetings of the Commission itself and attends the meetings of the Board of Superintendency.

6 . The Board of Superintendence is responsible for the administration and management of the Institute as well as for the supervision and supervision of its financial, economic and operational activities.

It is composed of seven members, appointed by the Commission of Cardinals, who hold office for five years and can be confirmed once.

7 . The legal representation of the Institute is the responsibility of the President of the Board of Superintendence.

8 . The Management is made up of the General Manager and a possible Deputy Director, appointed by the Board of Superintendence with the approval of the Cardinals Commission.

The General Manager, who can be hired on a permanent or temporary basis, is responsible for all the operational activities of the Institute and is accountable to the Board of Superintendency.

9 . The statutory audit of the accounts is carried out by an external auditor, appointed by the Cardinals Commission on the proposal of the Board of Superintendence, for a period of three consecutive financial years, renewable only once.

I also establish that this Chirograph is published in the newspaper L’Osservatore Romano together with the new Statute of the Institute for Works of Religion which, approved by me ad experimentum for two years, and it will enter into force immediately on the stated publication, and which subsequently, both are simultaneously inserted in the Acta Apostolicae Sedis.

Given in Rome, at St. Peter’s, on August 8, 2019, the seventh year of  Pontificate.

FRANCIS

[Original text: Italian] [Working translation in English by Zenit Sr Vatican Correspondent, Deborah Castellano Lubov]
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