US EditionPope Leo XIV Is Starting to Correct some of Francis' More Problematic Financial Decisions
- On Monday, October 6, 2025, Pope Leo XIV announced a new law reforming the financial management of the Holy See while meeting the Knights of Columbus in Vatican City.
- The new legislation revoked a 2022 directive that had assigned sole control over the Holy See’s asset management to the Vatican bank known as the IOR, a change that had caught many within the Vatican off guard.
- The updated legislation allows the Holy See to use non-Vatican banks abroad if the Investment Committee deems it more efficient, restoring flexibility previously limited by the 2022 law and reaffirming APSA's administrative role.
- Pope Leo thanked the Knights of Columbus, a key American donor, for their charitable work restoring Bernini’s baldacchino canopy over St. Peter’s altar and highlighted the need for transparency and revised fundraising structures.
- These reforms mark Leo's second significant effort to recalibrate Vatican financial power, reversing some of Francis' disputed decisions and suggesting ongoing adjustments to Vatican governance and fundraising commissions.
58 Articles
58 Articles
Vatican City, Holy See. Pope Leo XIV softened on Monday the rules of the Vatican on financial investments, abrogating a reform introduced by his predecessor Francis. In a “Motu Proprio”, or legal change, the Pope abrogated a directive of Francis of 2022, according to which the Institute for Works of Religion (IOR), also called the “Vatican Bank”, the main financial institution of the Holy See, should have exclusive competence over the management…
Leão XIV repeals the law that gave exclusive power to the Vatican bank and transfers a close administrator from Francisco. Decisions mark a new direction in the management of the Holy See.
Pope Leo XIV has lifted an order from his predecessor to invest Vatican assets.
Pope Leo XIV is starting to correct some of Francis’ more problematic financial decisions
Pope Leo XIV has begun correcting some of Pope Francis’ more questionable financial reforms and decisions, canceling a law Monday that had concentrated financial power in the Vatican bank.
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