Pre-existing Funds that are just sitting waiting around to be put into depositor accounts once a bank fails have low to no velocity. Giving them to money-spending depositors is inflationary by virtue of increasing the velocity of that money that was previously just sitting on the sideline. Even in the scenario you present is inflationary.
Eh, if it was sitting in a bank before and now it’s sitting in a different bank that’s not a difference. The depositors never got an unexpected increase in spending power, they just avoided an unexpected decrease.
What matters is where the old funds went. The bank might’ve been spending it out the back, but in that case the inflationary actions already happened.
