Etter de ulovlige bispevielsene i SSPX i juni 1988, ble Peters-broderskapet opprettet av pave Johannes Paul II 18. oktober 1998. Opprettelsesdokumentene kan man lese på FSSPs nettsider på denne siden.
De skriver selv om sitt arbeid:
The Fraternity was founded on July 18, 1988 at the Abbey of Hauterive (Switzerland) by a dozen priests and a score of seminarians. Shortly after the Fraternity’s foundation and following upon a request by Cardinal Ratzinger, Bishop Joseph Stimpfle of Augsburg, Germany granted the Fraternity a home in Wigratzbad, a Marian shrine in Bavaria that now lodges the Fraternity’s European seminary. In the same month of October there arrived a handful of priests and some thirty seminarians ready to start «from scratch». There are currently almost 200 priests and 110 seminarians in the Fraternity.
Tiltredes! De er viktigere idag enn noensinne.