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The Emblem of the Papacy.

The Institute for the Works of Religion, (Italian: Istituto per le Opere di Religione – IOR) commonly known as the Vatican Bank, is a privately held institute located inside Vatican City and run by a Board of Superintendence who report directly to a Cardinals' Commission and the Pope.

The institute was founded by papal decree of Pope Pius XII in June 1942. Its assets are not property of the Holy See, and so it is not overseen by the Prefecture for the Economic Affairs of the Holy See.

Banking scandal

Upon his investiture, John Paul I began an enquiry into the Vatican Bank's activities, and died soon after under mysterious events, an event known as the Banco Ambrosiano scandal. This was utilized for the plot of The Godfather Part III.

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