Pope Francis on Feb. 22 named Cardinal Luis Antonio Tagle as a member of the Administration of the Patrimony of the Apostolic See (APSA), an office that operates as the Vatican’s bank.
APSA is an office within the Roman Curia that deals with “provisions owned by the Holy See in order to provide the funds necessary for the Roman Curia to function.”
The office is headed by Italian Bishop Nunzio Galantino, who manages the payroll and operating expenses of the Vatican.
Cardinal Peter Turkson, prefect of the Dicastery for Promoting Integral Human Development, was also appointed to the body.
The Pontiff recently transferred to APSA “the ownership of the funds and bank accounts, movable and immovable investments, including shareholdings in companies and investment funds, hitherto held in the name of the Secretariat of State.”
Tagle is the prefect of the Congregation for the Evangelization of Peoples and the president of Caritas Internationalis, a confederation of Catholic charities worldwide.
In May 2020, the Pope elevated Tagle to cardinal bishop or the highest rank of the College of Cardinals. He is the first Filipino and Asian to be elevated to the rank of cardinal bishop.
Tagle became part of the Pontifical Council for Interreligious Dialogue in the same year. Ma. Alena O. Castillo
