Explain how the key Australian banking regulators operate under the “twin peaks model”

Note: The key Australian banking regulators under Australian ‘twin peaks’ model are Australian Securities and Investments Commission (ASIC), Australian Prudential Regulation Authority (APRA) and Reserve Bank of Australia (RBA). WORD COUNT: Maximum 1200 words READ THIS: Include examples in your answer of how APRA, ASIC and RBA interact well or badly with banks.