Leo XIV promulgated on September 29 the apostolic letter in the form of a Motu Proprio titled Coniuncta cura, with which he establishes new norms for the investment activities of the Holy See. The document, published in L’Osservatore Romano, comes into force this Monday upon being incorporated into the Acta Apostolicae Sedis.
With this provision, the Pontiff repeals the Rescriptum ex Audientia of 2022 that had conferred on the Institute for the Works of Religion (IOR) the exclusive role in the management of Vatican assets and liquidity. From now on, the Administration of the Patrimony of the Apostolic See (APSA) will continue to use the IOR’s structure in an ordinary manner, but it may resort, when deemed more efficient or convenient, to financial intermediaries established in other States.
Supervision and Co-responsibility
The Motu Proprio strengthens the role of the Investment Committee, which is responsible for approving all operations, and emphasizes that investments must always be carried out in coherence with the Church’s mission. In this way, it seeks to consolidate the co-responsibility of the curial institutions, clarify competencies, and ensure transparency in the administration of the Holy See’s assets.
Context of Reforms
The measure is in line with the continuity of the reforms initiated under the apostolic constitution Praedicate Evangelium, which had already highlighted the need for greater control and clarity in Vatican financial management. Leo XIV now takes a further step, diversifying the management of investments and withdrawing from the IOR the exclusivity that had been granted to it three years ago.
The change responds to the purpose of avoiding rigidities in management, ensuring a more effective use of resources, and strengthening the credibility of the Holy See following the financial scandals that have marked recent years.