Spanish Cardinal Nominated President of Cardinals' Commission for IOR

The members of the Cardinals’ Commission of the Istituto per le Opere di Religione (IOR) – colloquially known as the Vatican Bank - have nominated Cardinal Santos Abril y Castello as their president.

According to the Institute’s statutes, the members of the Cardinals’ Commission are appointed by the Holy Father for a period of five years.

The president convenes the Cardinals’ Commission at least twice a year. It reviews reports on major business processes and strategy presented by the president of IOR’s board, known as the Board of Superintendence.

The Commission further oversees the Institute’s adherence to statutory norms and appoints the members of the Board of Superintendence.

The Institute’s current Cardinals’ Commission was appointed in January 2014 by the Holy Father and is composed of Cardinal Santos Abril y Castello (Archpriest of the Papal Basilica of St Mary Major), Cardinal Thomas Christopher Collins (Archbishop of Toronto), Cardinal Pietro Parolin (Titular Archbishop of Acquapendente and Secretary of State), Cardinal Christoph Schonborn (Archbishop of Vienna) and Cardinal Jean-Louis Tauran (President of the Pontifical Council for Interreligious Dialogue).