In the Independent State of Croatia, which Nazi Germany formally treated as a sovereign state, most, if not all, industrial and economic activity was either monopolized, or given a high priority for exploitation, by Germany. Agreements between the two governments in mid-1941 regulated foreign trade and payments and the export of Croatian labour to Germany. Germany already controlled a large number of industrial and mining enterprises in Croatia that were owned in part or in full by German citizens or citizens of German-occupied countries. Many other enterprises in Croatia, especially in the bauxite mining and timber industries, were leased to the Germans for the duration of the war. The Germans also held large interests in Croatian commercial banks, exercised either directly by banks in Berlin and Vienna, or indirectly, by German banks that had large interests in Prague and Budapest banks.