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July 31, 2013 / 10:46 AM

Vatican bank goes online; will publish annual balance sheet

VATICAN CITY, July 31 (UPI) -- The Vatican bank is launching a new Internet site where it will publish its annual balance sheet, the head of the bank announced Wednesday.

Ernst von Freyberg said he plans is to run the bank, formally known as the Institute for Religious Works or IOR, in line with international norms, the Italian news agency ANSA reported.

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"Our task is to run IOR in a way that it can respond to international norms, that it is a clean institute and one of service," von Freyberg said.

He also said the new measures are aimed at giving Pope Francis the ability to decide the right formula for the bank.

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