Buba, BaFin, Bank of Italy sign agreement

The Bundesbank, Germany's financial watchdog BaFin and Italy's central bank Banca d'Italia have signed an agreement to cooperate in the regulation of Unicredito Italiano SpA following its takeover of HVB Group, according to a statement published by BaFin.

Banca d'Italia is responsible for coming up with a strategy for this cooperation, which is to include joint probes of HVB.

BaFin said the signing parties agree that the cooperation should be extended to other countries within the euro zone in