(Tom: We could look back on this and laugh at how it was irrelevant in the overall scheme of things or we could look back on it and say, “Now THAT was a clue as to the timing of the Great Rest.” There are probably many of these incidents that you would have to be in the know to be able to correctly estimate their relative importance. Time will tell.)
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.
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