Overview

• Pope Leo issued a decree that abrogates the 2022 law granting the Institute for the Works of Religion sole authority over Holy See investments.
• Vatican entities are to use the IOR by default, unless competent bodies determine it is more efficient or convenient to employ financial intermediaries in other countries.
• Investment policies drafted by the oversight committee created in 2022 remain in force for all departments.
• The earlier centralization drew internal complaints and had surprised officials who noted the constitution assigns asset administration to APSA.
• The change follows a Sept. 27 reassignment of a Secretariat of State administrator to UNESCO, signaling an early recalibration of internal power under Leo.