And with respect to Augustine, there are lots of quotes that support my view there - 2 are specifically listed below.
They clearly state that the Church is built on Peter’s confession, and not on Peter himself. AND that the “keys of the kingdom” are in fact the “binding and loosing” power PLUS the fact that those keys were given to the entire Church. Read on:
"Remember, in this man Peter, the rock. He’s the one, you see, who on being questioned by the Lord about who the disciples said he was, replied, ‘You are the Christ, the Son of the living God.’ On hearing this, Jesus said to him, ‘Blessed are you, Simon Bar Jona, because flesh and blood did not reveal it to you, but my Father who is in heaven. And I tell you’…‘You are Peter, Rocky, and on this rock I shall build my Church, and the gates of the underworld will not conquer her. To you shall I give the keys of the kingdom. Whatever you bind on earth shall also be bound in heaven; whatever you loose on earth shall also be loosed in heaven’ (Mt 16:15-19). In Peter, Rocky, we see our attention drawn to the rock. Now the apostle Paul says about the former people, ‘They drank from the spiritual rock that was following them; but the rock was Christ’ (1 Cor 10:4). So this disciple is called Rocky from the rock, like Christian from Christ.
Why have I wanted to make this little introduction? In order to suggest to you that in Peter the Church is to be recognized. Christ, you see, built his Church not on a man but on Peter’s confession. What is Peter’s confession? ‘You are the Christ, the Son of the living God.’ There’s the rock for you, there’s the foundation, there’s where the Church has been built, which the gates of the underworld cannot conquer.
John Rotelle, O.S.A., Ed., The Works of Saint Augustine (New Rochelle: New City Press, 1993), Sermons, Volume III/6, Sermon 229P.1, p. 327.
"And this Church, symbolized in its generality, was personified in the Apostle Peter, on account of the primacy of his apostleship. For, as regards his proper personality, he was by nature one man, by grace one Christian, by still more abounding grace one, and yet also, the first apostle; but when it was said to him, ‘I will give unto thee the keys of the kingdom of heaven, and whatsoever thou shalt bind on earth, shall be bound in heaven; and whatsoever thou shalt loose on earth, shall be loosed in heaven,’ he represented the universal Church, which in this world is shaken by divers temptations, that come upon it like torrents of rain, floods and tempests, and falleth not, because it is founded upon a rock (petra), from which Peter received his name. For petra (rock) is not derived from Peter, but Peter from petra; just as Christ is not called so from the Christian, but the Christian from Christ. For on this very account the Lord said, ‘On this rock will I build my Church,’ because Peter had said, ‘Thou art the Christ, the Son of the living God.’ On this rock, therefore, He said, which thou hast confessed, I will build my Church. For the Rock (Petra) was Christ; and on this foundation was Peter himself built. For other foundation can no man lay than that is laid, which is Christ Jesus. The Church, therefore, which is founded in Christ received from Him the keys of the kingdom of heaven in the person of Peter, that is to say, the power of binding and loosing sins**.** For what the Church is essentially in Christ, such representatively is Peter in the rock (petra); and in this representation Christ is to be understood as the Rock, Peter as the Church.
Philip Schaff, Nicene and Post-Nicene Fathers (Grand Rapids: Eerdmans, 1956), Volume VII, St. Augustin, On the Gospel of John, Tractate 124.5.
David