Banks are printing money if deposit insurance matters

Banks are printing money if the presence of deposit insurance means that they do not fail and without deposit insurance they would fail. We cannot know that deposit insurance prevents their failure (it might be for some other reason) but we can speculate that it does. If it does prevent their failure then banks are printing money.

Definition: Banks print money if deposit insurance prevents their failure.

We cannot know that banks print money (in this sense) but we can speculate that they do. And we can find out if banks have been printing money by removing deposit insurance.