No banks may be privately owned. There are two national banks, presently named “Koenigliche Reichsbank” and “Reichssparkasse”. The Koenigliche Reichsbank is an organ of the state, owned by the people as a whole and the only bank authorised to issue a national currency. Each community has the right to establish its own community bank, owned by the people and to issue its own local currency.
The most serious crime of all in the Kingdom of Germany is the charging of interest. It is the only crime specifically mentioned in the constitution because it is interest charges which have led to the present state of near extermination and massive damage to our home planet. It is also the root cause of almost all criminal activity and civil strife.
This said, how are the banks to finance their services?
i) By a small fee per payment transaction. A one cent charge per payment is so small that no-one could be disadvantaged by it. The enormous volume of daily electronic payments, however, make of this one cent, millions per day!
ii) A bank cannot lend money in the old way. It can become a partner in a business and share in the profits of that business. Although it would also share in any losses, the probability of a well-structured business making a loss in such an economic heaven as provided by a tax-free, interest-free state is vanishingly small.
iii) And finance for a new house? Again very different; one way is to use community funds allocated by deposit holders for this purpose. Please, here, bear in mind that the cost of a house purchase in the Kingdom of Germany is around 60% lower than elsewhere. This transpires because, in the old system, 60% of the cost of a house purchase was interest paid to the bank for doing nothing whatsoever.
Banks are publicly owned institutions. As such their books are open records which may be audited by any citizen at any time.