The Fed Is Not Increasing the Quantitat of Money

Sot, the the difference is that when you do quantiative easing and the fed buys a bonds from s j p morgan, that doesn't make j pmorgan actually any more to make a loan. So in essence, it gets almost stuck with in the banking system. And eventually it just comes back and sits on the fence balance sheet, because there's so many reserves out thereThat's why they had to make the interest on excess reserves. Am i correct?