Question

True or False

The Federal Reserve System functions as the nation’s bank.

Answer 1

This is TRUE
I mean the Library of Congress says so, you can google their website.

Besides, it's in the name.
Hope this helps!

Answer 2

The Federal Reserve System functions as the Central Bank of the United States. It controls certain aspects of the money supply, buys and sells U.S. Treasury Bonds,  serves as a lender of last resort, and provides other financial services for the U.S. Government.