Nyon - UEFA have opened disciplinary proceedings against Bayern Munich after a banner related to Kosovo was displayed at the Allianz Arena during Tuesday's Champions League game against Arsenal.
European football's governing body have said they will also look into a small banner shown during the last-16 second leg tie which appeared to insult Arsenal.
"UEFA opens disciplinary proceedings against Bayern for banner about Kosovo," said the organisation's Chief of Press, Pedro Pinto, on Twitter.
"Regarding other banner regarding insult against Arsenal, UEFA has received report from FARE (Football Against Racism in Europe) and will communicate shortly," he added.
The second banner carried the slogan 'Gay Gunners' and appeared to depict Mesut Ozil - the German international playmaker formerly of Schalke 04 and Werder Bremen - standing in front of Arsenal's signature cannon.
Bayern winger Xherdan Shaqiri is of Kosovar origin, although he fled to Switzerland with his family as a child and represents the latter at international level.
Kosovo played their first FIFA-approved international match last Wednesday and drew 0-0 at home against Haiti, six years after declaring independence from Serbia.
Tuesday's match ended in a 1-1 draw, as Bayern advanced to the quarter-finals 3-1 on aggregate.