Fractional reserve in the US is 0% and banks create money for loans out of thin air
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
This is also the case in Australia (though this was implemented much earlier).
https://www.rba.gov.au/publications/bulletin/2018/sep/money-in-the-australian-economy.html
There are still many regulations including capital adequacy requirements though.