Cardinals fill important 'Vatican bank' position

Vatican City, Jun 15, 2013 / 05:31 am

The commission of cardinals that oversees the so-called Vatican bank has filled a key position by naming Monsignor Battista Ricca the secretary for the board and the commission itself.

Vatican press office director Father Federico Lombardi announced the appointment of Msgr. Ricca in a June 15 statement.

"The Supervisory Commission of Cardinals Institute for Works of Religion, with the approval of the Holy Father has appointed Msgr. Battista Mario Salvatore Ricca Prelate of the Institute," Fr. Lombardi said.

His role will involve serving as the secretary for the meetings of the cardinals' commission and assisting in meetings of the Board of Superintendents.

Msgr. Ricca currently oversees St. Martha's House, where Pope Francis has decided to live, as well as several other Vatican houses around Rome.

The previous prelate for the institute was Monsignor Piero Pioppo, who filled the role from 2006 until 2011, when he was made ambassador to Cameroon and Equatorial Guinea.

By filling the prelate position today and choosing Ernst von Freyberg as the financial institute's president on Feb.15, the commission of cardinals has filled two key roles.

This will prove important as the institute prepares to file its next report with Moneyval in December.

Moneyval is the financial oversight committee of the Council of Europe, which helps ensure compliance with measures to prevent money laundering and the financing of terrorism.

Its first evaluation of the Vatican was issued in July 2012, and it found the Holy See and Vatican City State were largely in compliance, with 9 key and core areas receiving a positive assessment and seven needing improvement.