VATICAN CITY
Chicago Tribune
Philip Pullella
Reuters
3:45 a.m. CST, January 22, 2014
VATICAN CITY (Reuters) – The Vatican bank asked Italy on Wednesday to resume financial relations effectively frozen since 2010, saying it had made great progress with new anti-money laundering measures Rome had demanded.
The request was made in a status report on the “compliance and transparency program”, of the bank, whose official title is the Institute for Works of Religion (IOR).
“The IOR looks forward to a resumption of full interaction with Italian financial institutions pending review by Italian regulatory authorities of the Holy See and Vatican City State’s anti-money laundering provisions,” the report said.
Italian banks stopped dealing with the Vatican bank in 2010 after the Bank of Italy told them they had to enforce strict anti-money laundering criteria.
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