No bank has a banking licence

Banks don't have deposit insurance an institution which cannot fail is part of the state and not a bank. Banks are not part of the state. The government (often) describes part of itself as a bank when it is not and cannot be. All banks can fail. There is nothing wrong with banks... the problem is that there are so few of them... genuine banks (without deposit insurance) are illegal since it is illegal to take deposits without a banking licence (and subsequent insurance). There are no banks if deposit insurance is mandatory.