No. A bank can only lend based on the amount of deposits it has on hand. It can lend 90% of deposits and must keep 10% as reserves. These banks cannot create money in any way. The Fed operates in a completely different manner. The original poster I was replying to claimed that any bank making a loan can create 90% of that loan out of thin air. That’s a bunch of nonsense.
They are creating money out of thin air. The Fed cannot print money, so they have other methods for creating money. When the banks open in Cyprus, it should be pretty interesting to see what happens.