Matthew 16:19

And I will give unto you the keys of the kingdom of heaven: and whatsoever you shall bind on earth shall be what has been bound in heaven: and whatsoever you shall loose on earth shall be what has been loosed in heaven.
All Commentaries on Matthew 16:19 Go To Matthew 16

Theophylact of Ochrid

AD 1107
. He spoke as God, with authority, "I will give unto thee." For as the Father gave you the revelation, so I give you the keys. By "keys" understand that which binds or looses transgressions, namely, penance or absolution; for those who, like Peter, have been deemed worthy of the grace of the episcopate, have the authority to absolve or to bind. Even though the words "I will give unto thee" were spoken to Peter alone, yet they were given to all the apostles. Why? Because He said, "Whose soever sins ye remit, they are remitted." Also, the words "I will give" indicate a future time, namely, after the Resurrection. "The heavens" also mean the virtues, and the keys to the heavens are labors. For by laboring we enter into each of the virtues as if by means of keys that are used to open. If I do not labor but only know the good, I possess only the key of knowledge but remain outside. That man is bound in the heavens, that is, in the virtues, who does not walk in them, but he who is diligent in acquiring virtues is loosed in them. Therefore let us not have sins, so that we may not be bound by the chains of our own sins.
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Knowing this first, that no prophecy of the scripture is of any private interpretation - 2 Peter 1:20

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