Pricing Supplement Dated February 29, 1996 Rule 424(b)(3)
File No. 33-50333
(To Prospectus dated October 8, 1993 and
Prospectus Supplement dated August 1, 1995)
THE BANK OF NEW YORK COMPANY, INC.
Subordinated Retail Medium-Term Notes
(U.S. $ Fixed Rate)
____________________________________________________________
Trade Date: February 29, 1996 Original Issue Date: March 7,
1996
Principal Amount: $20,000,000 Net Proceeds to Issuer:
$19,600,000
Issue Price: 100% Agent's Capacity:
Selling Agent's x Principal Basis Agency
Commission/Discount: $400,000
Basis
Interest Rate: 7.10% per annum Interest Payment Dates:
Maturity Date: March 15, 2011 15th day of each month
commencing April 15, 1996
____________________________________________________________
Form: x Book Entry
Certificated
Redemption:
The Notes cannot be redeemed prior to
maturity
x The Notes may be redeemed prior to maturity
on each March 15 or September 15 commencing
March 15, 2000 on 30 calendar days notice
Initial Redemption Date: March 15, 2000
Initial Redemption Percentage: 100%
Annual Redemption Percentage Reduction: N/A
Repayment:
x The Notes cannot be repaid prior to maturity
The Notes can be repaid prior to maturity at
the option of the holder of the Notes
Optional Repayment Date: N/A
Optional Repayment Price: N/A
Discount Note: Yes x No
The covenant defeasance provisions of the Indenture
described under "Description of Debt Securities --
Defeasance and Covenant Defeasance" in the Prospectus will
apply to the Notes.
(continued on next page)
Merrill Lynch & Co.
(continued from previous page)
The Notes described herein are being purchased by Merrill
Lynch & Co., Merrill, Lynch, Pierce, Fenner & Smith
Incorporated (the "Agent"), as principal, on the terms and
conditions described in the Prospectus Supplement under the
caption "Plan of Distribution of Retail Medium-Term Notes".
The Notes will be sold to the public at varying prices
relating to prevailing market prices at the time of resale
as determined by the Agent. The net proceeds to the
Company, before deducting expenses payable by the Company,
will be $19,600,000.
