The most common and most likely answer to this crossword clue is the 8 letter word RAILLERY
I've seen this crossword clue in Independent
R
A
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L
L
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Y
More clues leading to the result RAILLERY
- Bookless characters felt line should be banter
- Banter in bar getting really heartless, sadly
- Mocking bird with tips of tail blue or grey
- Satirical banter with one line, then more lines about the French
- Less well entertained by some light banter
- Beam pens ‘more off-colour’ banter
- Beam includes more sick banter
- Skate around apparently less healthy banter
- Playful satire about Republican I really roasted
- Wild lily, rare, in chaff
Buddy explains!

The straight part
We know that "Satirical banter" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case satirical banter = raillery.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RAILLERY mean?
RAILLERY noun- Good-natured ridicule, jest or banter.