> Along with a "-$100" IOU on the books

Which they can use as an asset to create (lend out) even more money that they don't have.

Call it what you want, but the bank is adding money to the economy that wasn't there before.

The bank is essentially converting a short term IOU (liquid deposits) into a longer term IOU (the loan)

It's a function of time (mediated by interest rates, subject to market demand, namely liquidity preferences)

That's not the same as outright "printing money" which is not backed by any deposits (what does the balance sheet look like when "printing money"?)

Ok fine I'll agree call it "creating money" rather than "printing money", because it's not the same mechanism the central bank uses to "print" permanent money (technically not printed either but whatever), but money is still created by the bank.