loans basically, I think?A deposits $100 you loan $97 of it to B who deposits that in their account. But A still has their $100.
The repo market is another example - and derivatives markets.
The main job of the Fed is be a clearinghouse. They don't really even know how much money is out there, let alone have omnipotent control over the supply. Monetary policy is only possible because of their role as a clearinghouse, but I digress.