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 situated exclusively on the sovereign territory of the Vatican City and run by a Board of Superintendence which reports to a Supervisory Commission of Cardinals and the Pope. The Bank Identifier Code of the Institute for the Works of Religion is IOPRVAVX. Since 9 July 2014, its president is Jean-Baptiste de Franssu.