Will banks' excess reserves fuel a new monetary crisis?

Now, as you are about to see, we could be in the early stages of a new and little understood monetary crisis. The massive amount of capital parked at the Federal Reserve as excess reserves is being steadily withdrawn by the commercial banks and loaned to businesses and consumers with notable effect. About $700 billion of the $2.7 trillion pool of money on deposit at the Fed has already been redeployed by the commercial banks. In turn, the money supply has begun to rise, and most notably this past January (2017) the producer price index registered a surprising nearly double-digit 8% annual increase. As it turns out, the inflation created by the Fed's quantitative easing program seems only to have been put in temporary abeyance. The full effect is yet to be determined.

Will banks' excess reserves fuel a new monetary crisis?