Pope Leo to Limit Vatican Bank’s Role in Managing Holy See Funds

Pope Leo XIV is changing the management of the Holy See’s financial investment activities, effectively clipping the powers of the Vatican Bank.

The leader of the world’s 1.4 billion Catholics who was elected as pope on May 8, approved rules that would spread the responsibility for investing the Vatican’s funds across various institutions of the Holy See, according to the Apostolic Letter “Coniuncta Cura” released on Monday.