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Pope Leo trims powers of Vatican bank, rolling back a Francis reform

Published on: Monday 06 October 2025

VATICAN CITY (Reuters) -Pope Leo cancelled the Vatican bank's sole authority over investments held by the city-state on Monday, rolling back one of the financial reforms of his predecessor Francis. In a short decree, Leo said the Vatican bank, known officially as Institute for the Works of Religion, would no longer control all investments made by Vatican departments, as Francis had mandated in 2022.

News source: https://www.aol.com/articles/pope-leo-trims-powers-vatican-120457381.html

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Pope Leo trims powers of Vatican bank, rolling back a Francis reform