Pope Leo XIV has rewritten the rules on the Holy See's financial investments in his first 'motu proprio"' Apostolic Letter, which was published on Monday, repealing a 2022 instruction passed under his predecessor Francis that had given the Vatican Bank (the Institute for the Works of Religion - IOR) exclusive competence over asset management.
The law-setting motu proprio, "Coniuncta cura", says the Administration of the Patrimony of the Apostolic See (APSA) should continue to generally act through the Vatican Bank for investments.
But it will now also have the flexibility to involve financial bodies and intermediaries from outside the Vatican if this is deemed more efficient or appropriate
