JPMorgan Chase & Co., HSBC Holdings Plc and Credit AgricoleSA were fined a total of 485.5 million euros ($521 million)for rigging the Euribor benchmark as European Union antitrustregulators wrapped up a five-year investigation into thescandal.

The trio colluded to rig the Euribor rate and exchangedsensitive information to suit their trading positions in correlatedderivatives markets, in breach of EU antitrust rules, the EuropeanCommission said on Wednesday in an emailed statement. JPMorgan wasfined 337.2 million euros, HSBC got a 33.6 million-euro penalty andCredit Agricole must pay 114.7 million euros.

“The participation in such schemes was very lucrative for thebanks,” Margrethe Vestager, the EU's antitrustcommissioner, told journalists in Brussels, adding that it'svery difficult to make an exact estimate of their profits. “Tinymovements of the Euribor rate can have a huge impact given thetrading volumes at stake.”