With a motu proprio published on 8 August the Pope extended the oversight of the Financial Information Authority (AIF) to all Vatican department and offices, including those of the Roman Curia and the scandal-ridden Vatican Bank, the IOR.
It also envisions the creation of a new Financial Security Committee to help increase vigilance and coordinate efforts in countering corruption, headed by Mgr Peter B. Wells, of Tulsa, Oklahoma, who is assessor in the Vatican Secretariat of State.
AIF will now "evaluate and approve the financial activities and services offered" by those institutions, according to Fr Federico Lombardi, the Vatican spokesman.
The new norms are the latest step in Pope Francis' ongoing effort to bring Vatican financial regulations and practices into line with international standards.