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Pope Benedict XVI announces his resignation as head of state of the Vatican City State, effective on the 28th.
The new agency, by mandate of an Apostolic Letter, is charged with monitoring the monetary and commercial activities of Vatican agencies, such as the Governorate of Vatican City State, the Vatican Bank, the Administration of the Patrimony of the Apostolic See, the Congregation for the Evangelization of Peoples, and smaller agencies such as the Vatican Pharmacy, the Vatican Supermarket, and the Vatican Museums.
The other cardinals are Giuseppe Bertello, president of the Vatican City State governorate; Oswald Gracias from India; Reinhard Marx from Germany; Laurent Monsengwo Pasinya from the Democratic Republic of the Congo; Seán Patrick O'Malley from the United States; George Pell from Australia; and Oscar Andres Rodriguez Maradiaga from Honduras.