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A Catholic place of business, a large one in the Vatican (7)

Ross

I believe the answer is:

archive

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'business a large one in the vatican' is the definition.
I can't judge whether this definition defines the answer.

'a catholic place' is the wordplay.
'catholic' becomes 'RC' (abbreviation for Roman Catholic).
'place' becomes 'hive' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'a'+'rc'+'hive'='ARCHIVE'

'of' is the link.

Can you help me to learn more?

(Other definitions for archive that I've seen before include "File away" , "Record, annal" , "Save data for storage" , "Document depository" , "Records or historical papers of an institution" .)

I've seen this clue in The Times.
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