So I think your description is in agreement with mine, but I consider the first action of the borrower to be withdrawing the money and giving it to e.g. someone

So I think your description is in agreement with mine, but I consider the first action of the borrower to be withdrawing the money and giving it to e.g. someone selling a house. If the person selling the house uses the same bank, then yes the bank really did just create the money for the loan, but if it wasn’t the same bank then I consider them to have created money for the previous investors while handing out the real money to a borrower. Mostly a matter of perception I guess.