If a bank has a deposit guarantee from the Government then it is a fully reserved bank

Modern banking systems are described as practicing Fractional Reserve Banking, but this is something of a misnomer. To use the term 'fractional reserves' suggests that bank deposits are not themselves a from of money, but the deposit guarantee indicates that they are regarded (considered) to be money by the authorities, which, in a fiat economy, assigns monetary status to bank deposits. So banks have fully reserved liabilities because of the deposit guarantee and (due to the fact that) Governments consider bank deposits to be a form of money, which then makes them money.

The deposit guarantee means that banks no longer have fractional reserves, they are fully reserved.