Is this statement True or False?

The UCP rules, Article 34 pertaining to Documentary Credits can be interpreted, that a Bank assumes no liability. Please read the Article below and advise if, in your interpretation, the statement above is True or False?

UCP 600 - Article 34 Disclaimer on Effectiveness of Documents

"A bank assumes no liability or responsibility for the form, sufficiency, accuracy, genuineness, falsification or legal effect of any document, or for the general or particular conditions stipulated in a document or superimposed thereon; nor does it assume any liability or responsibility for the description, quantity, weight, quality, condition, packing, delivery, value or existence of the goods, services or other performance represented by any document, or for the good faith or acts or omissions, solvency, performance or standing of the consignor, the carrier, the forwarder, the consignee or the insurer of the goods or any other person."