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Bank of New York Co Inc – ‘10-K’ for 12/31/00

On: Thursday, 3/29/01, at 8:00pm ET · For: 12/31/00 · Accession #: 9626-1-9 · File #: 1-06152

  As Of                Filer                Filing    For·On·As Docs:Size

 3/29/01  Bank of New York Co Inc           10-K       12/31/00   10:337K

Annual Report — Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        2000 Form 10-K                                        30    182K 
 2: EX-3        Exhibit 3(A)                                          19     83K 
 3: EX-10       Exhibit 10(Ggg)                                        3     10K 
 4: EX-10       Exhibit 10(Hhh)                                       18     65K 
 5: EX-10       Exhibit 10(Iii)                                        2      5K 
 6: EX-10       Exhibit 10(Jjj)                                        2     11K 
 7: EX-12       Statement re: Computation of Ratios                    2±     9K 
 8: EX-13       Annual or Quarterly Report to Security Holders        55    264K 
 9: EX-21       Subsidiaries of the Registrant                         1      5K 
10: EX-23       Exhibit 23.1                                           2±    12K

10-K — 2000 Form 10-K
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Business Changes in and Disagreements With Accountants on Accounting and Financial Disclosure Company Fdicia Financial Statements and Supplementary Data Legal Proceedings Management's Discussion and Analysis of Financial Condition and Results of Operations Market Risk Management Properties Quantitative and Qualitative Disclosures About Market Risk Selected Financial Data Submission of Matters to A Vote of Security Holders
1	1st Page - Filing Submission
2	Item 1. Business
3	Fdicia
12	Market Risk Management
17	Company
18	Item 2. Properties
"	Item 3. Legal Proceedings
19	Item 4. Submission of Matters to A Vote of Security Holders
"	Item 6. Selected Financial Data
"	Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
21	Item 7A. Quantitative and Qualitative Disclosures About Market Risk
"	Item 8. Financial Statements and Supplementary Data
"	Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

10-K 1st Page of 30 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C. 20549  

FORM 10-K 
(Mark One)                                                                      
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                       
SECURITIES EXCHANGE ACT OF 1934                                       

For The Fiscal Year Ended December 31, 2000                                     

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                   
SECURITIES EXCHANGE ACT OF 1934                                       

Commission file number 1-6152   

THE BANK OF NEW YORK COMPANY, INC.  
(Exact name of registrant as specified in its charter)  
NEW YORK                                                   13-2614959           
(State or other jurisdiction of                           (I.R.S. employer      
incorporation or organization)                             identification no.)  

One Wall Street, New York, New York                        10286                
(Address of principal executive offices)                  (Zip code)            

Registrant's telephone number, including area code (212) 495-1784               

Securities registered pursuant to Section 12(b) of the Act:                     
                                                       Name of each exchange
        Title of each class                              on which registered
        -------------------                            ---------------------
Common Stock, $7.50 par value                          NEW YORK STOCK EXCHANGE  
Preferred Stock Purchase Rights                        NEW YORK STOCK EXCHANGE  
7.80% Preferred Trust Securities, Series C             NEW YORK STOCK EXCHANGE  
7.05% Preferred Securities, Series D                   NEW YORK STOCK EXCHANGE  
6.88% Preferred Trust Securities, Series E             NEW YORK STOCK EXCHANGE  

Securities registered pursuant to Section 12(g) of the Act:                     

Title of each class                                         
-------------------                                         
Class A, 7.75% Cumulative Convertible Preferred Stock                           
7.97% Capital Securities, Series B                                              

Indicate by check mark whether the registrant (1) has filed all reports         
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of   
1934 during the preceding 12 months (or for such shorter period that the        
registrant was required to file such reports), and (2) has been subject to      
such filing requirements for the past 90 days.                  Yes [X] No [ ]  

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405  
of Regulation S-K is not contained herein, and will not be contained to the     
best of registrant's knowledge, in definitive proxy or information statements   
incorporated by reference in Part III of this Form 10-K or any amendment to     
this Form 10-K.   [ ]                                                           

The aggregate market value of voting stock held by nonaffiliates of the         
registrant at February 28, 2001 consisted of:                                   

Common Stock ($7.50 par value)                                 $38,146,022,051  
                                                     (based on closing price
                                                 on New York Stock Exchange)

The number of shares outstanding of the registrant's Common Stock $7.50 par     
value was 736,694,130 shares on February 28, 2001.                              

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DOCUMENTS INCORPORATED BY REFERENCE   

Portions of the 2000 Annual Report to Shareholders are incorporated by          
reference into Parts I, II, and IV.                                             

Proxy Statement for the annual meeting of shareholders to be held May 8, 2001   
(other than information included in the proxy statement pursuant to Item 402    
(i), (k) and (l) of Regulation S-K) is incorporated by reference into Part      
III.                                                                            

PART I                                                                          
------                                                                          

ITEM 1.  BUSINESS                                                               
-----------------                                                               

INTRODUCTION                                                                    

The business of The Bank of New York Company, Inc. (the "Company") and
its subsidiaries is described in the Company's 2000 Annual Report to            
Shareholders beginning under the heading "Securities Servicing and Global       
Payment Servicing" and continuing through "Retail Banking" which description    
is included in Exhibit 13 to this report and incorporated herein by reference.  
Also, the "Management's Discussion and Analysis" section included in Exhibit    
13 contains financial and statistical information on the operations of the      
Company.  Such information is herein incorporated by reference.                 

CERTAIN REGULATORY CONSIDERATIONS                                               

General                                                                         

 As a bank holding company, the Company is subject to the regulation and
supervision of the Federal Reserve Board under the Bank Holding Company Act of  
1956 ("BHC Act").  The Company is also subject to regulation by the New York    
State Banking Department.  Under the BHC Act, bank holding companies may not    
directly or indirectly acquire the ownership or control of more than 5% of the  
voting shares or substantially all of the assets of any bank or bank holding    
company, without the prior approval of the Federal Reserve Board.  In           
addition, bank holding companies that are not financial holding companies are   
generally limited to engaging in the business of banking, managing or           
controlling banks, and other activities that the Federal Reserve Board has      
determined to be so closely related to banking as to be a proper incident       
thereto.                                                                        

  Under the Gramm-Leach-Bliley Act (the "GLB Act"), which became effective
on March 11, 2000 with respect to provisions relating to powers, bank holding   
companies, each of whose depository institution subsidiaries is "well           
capitalized" as defined under the Federal Deposit Insurance Act and "well       
managed" as defined under Regulation Y under the BHC Act and which obtain at    
least a "satisfactory" rating under the Community Reinvestment Act, have the    
ability to declare themselves to be financial holding companies and engage in   
a broader range of activities than those traditionally permissible for U.S.     
bank holding companies.  The Company's declaration to become a financial        
holding company became effective on August 11, 2000.  As a financial holding    
company, the Company may conduct, or acquire a company (other than a U.S.       
depository institution or foreign bank) engaged in, activities that are         
"financial in nature," as well as additional activities that the Federal        
Reserve Board determines (in the case of incidental activities, in conjunction  
with the Department of the Treasury) are incidental or complementary to         
financial activities, without the prior approval of the Federal Reserve Board.  
Under the GLB Act, activities that are financial in nature include insurance,   
securities underwriting and dealing, merchant banking, and lending activities.  
Under the new merchant banking authority added by the GLB Act, financial        
holding companies may invest in companies that engage in activities that are    
not otherwise permissible, subject to certain limitations, including that the   
financial holding company makes the investment with the intention of limiting   

10-K 3rd Page of 30 TOC 1st Previous Next ↓Bottom Just 3rd

the investment in duration and does not manage the company on a day-to-day      
basis.                                                                          

Financial holding companies that do not continue to meet all of the   
requirements for financial holding company status will, depending on which      
requirement they fail to meet, lose the ability to undertake new activities or  
acquisitions that are financial in nature or to continue those activities that  
are not generally permissible for bank holding companies.                       

   The Company's subsidiary banks are subject to supervision and examination
by applicable federal and state banking agencies.  The Bank of New York         
("BNY"), the Company's principal banking subsidiary, is a New York chartered    
banking corporation, a member of the Federal Reserve System and is subject to   
regulation, supervision and examination by the Federal Reserve Board and by     
the New York State Banking Department.                                          

 Both federal and state laws extensively regulate various aspects of the
banking business, such as permissible types and amounts of loans and            
investments, permissible activities, and reserve requirements.  These           
regulations are intended primarily for the protection of depositors rather      
than the Company's stockholders.                                                

Capital Adequacy                                                                

The Federal bank regulators have adopted risk-based capital guidelines
for bank holding companies and banks.  The minimum ratio of qualifying total    
capital ("Total Capital") to risk-weighted assets (including certain off-       
balance sheet items) is 8%.  At least half of the Total Capital must consist    
of common stock, retained earnings, noncumulative perpetual preferred stock,    
minority interests (including preferred trust securities) and, for bank         
holding companies, a limited amount of qualifying cumulative perpetual          
preferred stock, less most intangibles including goodwill ("Tier 1 Capital").   
The remainder ("Tier 2 Capital") may consist of other preferred stock, certain  
other instruments, and limited amounts of subordinated debt and the loan and    
lease allowance.  Not more than 25% of qualifying Tier 1 Capital may consist    
of preferred trust securities.                                                  

 In addition, the Federal Reserve Board has established minimum Leverage
Ratio (Tier 1 Capital to average total assets) guidelines for bank holding      
companies and banks.  The Federal Reserve Board's guidelines provide for a      
minimum Leverage Ratio of 3% for bank holding companies and banks that meet     
certain specified criteria, including those having the highest regulatory       
rating.  All other banking organizations will be required to maintain a         
Leverage Ratio of at least 3% plus an additional cushion of 100 to 200 basis    
points.  The guidelines also provide that banking organizations experiencing    
internal growth or making acquisitions will be expected to maintain strong      
capital positions substantially above the minimum supervisory levels, without   
significant reliance on intangible assets.  At December 31, 2000, the Federal   
Reserve Board has not advised the Company of any specific minimum Leverage      
Ratio applicable to it.  See "FDICIA" below.                                    

The Federal Reserve recently proposed regulations which would require 
bank holding companies to deduct from Tier 1 capital 8% to 25% of the total     
carrying value of certain investments in non-financial companies, including     
merchant banking investments.  The Company does not believe that such           
regulations, if adopted, would have a material effect on its capital position.  

FDICIA                                                                          

The Federal Deposit Insurance Corporation Improvement Act of 1991     
("FDICIA") among other things, requires federal banking regulators to take      
prompt corrective action in respect of FDIC-insured depository institutions     
(such as BNY) that do not meet minimum capital requirements.  FDICIA            
establishes five capital tiers: "well capitalized", "adequately capitalized",   
"undercapitalized", "significantly undercapitalized", and "critically           
undercapitalized".  A depository institution's capital tier will depend upon    

10-K 4th Page of 30 TOC 1st Previous Next ↓Bottom Just 4th

how its capital levels compare to various relevant capital measures and         
certain other factors, as established by regulation.  Under applicable          
regulations, an FDIC-insured bank is deemed to be: (i) well capitalized if it   
maintains a Leverage Ratio of at least 5%, a Tier 1 Capital Ratio of at least   
6% and a Total Capital Ratio of at least 10% and is not subject to an order,    
written agreement, capital directive, or prompt corrective action directive to  
meet and maintain a specific level for any capital measure; (ii) adequately     
capitalized if it maintains a Leverage Ratio of at least 4% (or a Leverage      
Ratio of at least 3% if it is rated Composite 1 in its most recent report of    
examination, subject to appropriate federal banking agency guidelines), a Tier  
1 Capital Ratio of 4% and a Total Capital Ratio of at least 8% and is not       
defined to be well capitalized but meets all of its minimum capital             
requirements; (iii) undercapitalized if it has a Leverage Ratio of less than    
4% (or a Leverage Ratio that is less than 3% if it is rated Composite 1 in its  
most recent report of examination, subject to appropriate federal banking       
agency guidelines), a Tier 1 Capital Ratio less than 4% or a Total Capital      
Ratio of less than 8% and it does not meet the definition of a significantly    
undercapitalized or critically undercapitalized institution; (iv)               
significantly undercapitalized if it has a Leverage Ratio of less than 3%, a    
Tier 1 Capital Ratio less than 3% or a Total Capital Ratio of less than 8% and  
it does not meet the definition of critically undercapitalized; and (v)         
critically undercapitalized if it maintains a level of tangible equity capital  
less than 2% of total assets.  A bank may be deemed to be in a capitalization   
category that is lower than is indicated by its actual capital position if it   
receives an unsatisfactory examination rating.  FDICIA imposes progressively    
more restrictive constraints on operations, management and capital              
distributions, depending on the capital category in which an institution is     
classified.                                                                     

FDICIA generally prohibits an FDIC-insured depository institution from
making any capital distribution (including payment of dividends) or paying any  
management fee to its holding company if the depository institution would       
thereafter be undercapitalized.  Undercapitalized depository institutions are   
subject to restrictions on borrowing from the Federal Reserve.  In addition,    
undercapitalized depository institutions are subject to growth limitations and  
are required to submit a capital restoration plan.  The federal banking         
agencies may not accept a capital plan without determining, among other         
things, that the plan is based on realistic assumptions and is likely to        
succeed in restoring the depository institution's capital.  In addition, for    
an undercapitalized depository institution's capital restoration plan to be     
acceptable, its holding company must guarantee the capital plan up to an        
amount equal to the lesser of 5% of the depository institution's assets at the  
time it became undercapitalized or the amount of the capital deficiency when    
the institution fails to comply with the plan.  In the event of the parent      
holding company's bankruptcy, such guarantee would take priority over the       
parent's general unsecured creditors.  If a depository institution fails to     
submit an acceptable plan, it is treated as if it is significantly              
undercapitalized.                                                               

  Significantly undercapitalized depository institutions may be subject to
a number of requirements and restrictions, including orders to sell sufficient  
voting stock to become adequately capitalized, requirements to reduce total     
assets and cessation of receipt of deposits from correspondent banks.           
Critically undercapitalized depository institutions are subject to appointment  
of a receiver or conservator.                                                   

A depositary institution that is not well capitalized is subject to   
certain limitations on brokered deposits.  In addition, as indicated above, if  
a depositary institution is not well capitalized, its parent holding company    
cannot become, and, subject to a capital restoration plan, cannot remain, a     
financial holding company.                                                      

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  As of December 31, 2000 and 1999, the capital ratios for the Company and
BNY qualified them as well capitalized as set forth in the table below.         

  December 31, 2000        December 31, 1999
  -----------------        -----------------
                                                                  Well
                                                                 Capitalized
                  Company      BNY         Company      BNY       Guidelines
                  -------      ---         -------      ---      -----------

Tier I                8.60%     8.03%          7.51%     7.14%           6%     
Total Capital        12.92     11.60          11.67     10.50           10      
Leverage              7.49      6.91           7.20      6.85            5      
Tangible Common                                                                 
Equity               5.78      6.96           4.79      6.36                  

   At December 31, 2000, the amounts of capital by which the Company and BNY
exceed the well capitalized guidelines are as follows:                          

(in millions)                                 Company               BNY         
                                     -------               ---

Tier 1                                         $1,699            $1,275         
Total Capital                                   1,911             1,006         
Leverage                                        1,870             1,395         

 The following table presents the components of the Company's risk-based
capital at December 31, 2000 and 1999:                                          

(in millions)                                    2000              1999         
                                        ----              ----

Common Stock                                   $6,151            $5,142         
Preferred Stock                                     1                 1         
Minority Interest - Preferred Securities        1,500             1,500         
Adjustments: Intangibles                       (1,785)           (1,624)        
     Securities Valuation Allowance      (244)              (58)
                                       -------           -------
Tier 1 Capital                                  5,623             4,961         
                                       -------           -------
Qualifying Unrealized Equity Security Gains       153                74         
Qualifying Subordinated Debt                    2,073             2,089         
Qualifying Allowance for Loan Losses              603               581         
                                       -------           -------
Tier 2 Capital                                  2,829             2,744         
                                       -------           -------
Total Risk-based Capital                       $8,452            $7,705         
                                       =======           =======

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The following table presents the components of the Company's risk     
adjusted assets at December 31, 2000 and 1999:                                  

                                                                [Download Table]

                                              2000                    1999         
                                     --------------------------------------------- 
                                      Balance                  Balance             
                                       sheet/         Risk      sheet/      Risk   
                                     notional     adjusted    notional    adjusted 
(in millions)                          amount      balance      amount     balance 
                                     --------     --------    --------    -------- 
                                                                                   
Assets                                                                             
------                                                                             
Cash, Due From Banks and Interest-                                                 
  Bearing Deposits in Banks          $  8,462      $ 1,491    $ 10,126     $ 1,727 
Securities                              7,401        3,080       6,899       2,481 
Trading Assets                         12,051            -       8,715           - 
Fed Funds Sold and Securities                                                      
  Purchased Under Resale Agreements     5,790        1,003       5,383         957 
Loans                                  36,261       32,119      37,547      32,901 
Allowance for Credit Losses              (616)           -        (595)          - 
Other Assets                            7,765        5,712       6,681       4,612 
                                     ---------     -------    ---------    ------- 
Total Assets                         $ 77,114       43,405    $ 74,756      42,678 
                                     =========     -------    =========    ------- 
Off-Balance Sheet Exposures                                                        
---------------------------                                                        
Commitments to Extend Credit         $ 48,625       12,887    $ 51,574      13,484 
Securities Lending Indemnifications   106,560            -      61,378           - 
Standby Letters of Credit and                                                      
  Other Guarantees                      9,634        8,043      10,399       8,397 
Interest Rate Contracts               274,867          534     213,653         535 
Foreign Exchange Contracts             76,352            1     102,950           - 
                                     ---------     -------    ---------     -------
Total Off-Balance Sheet Exposures    $516,038       21,465    $439,954      22,416 
                                     =========     -------    =========     -------
Market Risk Equivalent Assets                          391                     887 
Unrealized Equity Security Gains                                                   
  Qualifying as Risk Based Capital                     153                      74 
                                                   -------                 ------- 
Risk Adjusted Assets                               $65,414                 $66,055 
                                                   =======                 ======= 

A further discussion of the Company's capital position and capital    
adequacy is incorporated by reference from "Capital Resources" in the           
"Management's Discussion and Analysis" Section and Note 10 to the Consolidated  
Financial Statements of Exhibit 13.                                             

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FDIC Insurance Assessments                                                      

BNY is subject to FDIC deposit insurance assessments.  As required by 
FDICIA, the FDIC adopted a risk-based premium schedule to determine the         
assessment rates for most FDIC-insured depository institutions.  Effective      
January 1, 1997, under the schedule, the premiums range from zero to $.27 for   
every $100 of deposits.  Each financial institution is assigned to one of nine  
categories based on the institutions capital ratios and supervisory             
evaluations, and the premium paid by the institution is based on the category.  
Under the present schedule, institutions in the highest of the three capital    
categories and the highest of three supervisory categories pay no premium and   
institutions in the lowest of these categories pay $.27 per $100 of deposits.   
BNY paid no FDIC insurance premiums in 2000.  In addition, the Deposit          
Insurance Funds Act provides for assessments at all insured depository          
institutions to pay for the cost of the Financing Corporation (a governmental   
agency) funding.  The assessment will be based on deposit levels and will be    
approximately 2.06 basis points.                                                

The FDIC is authorized to raise insurance premiums in certain         
circumstances.  Any increase in premiums would have an adverse effect on the    
Company's earnings.                                                             

Under the FDICIA, insurance of deposits may be terminated by the FDIC 
upon a finding that the institution has engaged in unsafe and unsound           
practices, is in an unsafe or unsound condition to continue operations or has   
violated any applicable law, regulation, rule, order, or condition imposed by   
a bank's federal regulatory agency.                                             

Depositor Preference                                                            

The Omnibus Budget Reconciliation Act of 1993 provides for a domestic 
depositor preference on amounts realized from the liquidation or other          
resolution of any depository institution insured by the FDIC.                   

Acquisitions                                                                    

  The BHC Act generally limits acquisitions by bank holding companies that
have not qualified as financial holding companies to commercial banks and       
companies engaged in activities that the Federal Reserve Board has determined   
to be so closely related to banking as to be a proper incident thereto.  As a   
financial holding company, however, the Company is also permitted to acquire    
companies engaged in activities that are financial in nature and in activities  
that are incidental and complementary to financial activities without prior     
Federal Reserve Board approval.                                                 

The BHC Act, the Federal Bank Merger Act, the New York Banking Law and
other state statutes regulate the acquisition of commercial banks.  The BHC     
Act requires the prior approval of the Federal Reserve Board for the direct or  
indirect acquisition of more than 5% of the voting shares of a commercial       
bank.                                                                           

 The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
("IBBEA") permits bank holding companies, with Federal Reserve Board approval,  
to acquire banks located in states other than the bank holding company's home   
state without regard to whether the transaction is permitted under state law.   
In addition, IBBEA provides that national banks and state banks with different  
home states are permitted to merge across state lines, with the approval of     
the appropriate federal banking agency, unless the home state of a              
participating bank passed legislation between the date of enactment of IBBEA    
and May 31, 1997 expressly prohibiting interstate mergers.  Most states,        
including New York, New Jersey and Connecticut have not passed legislation      
prohibiting interstate mergers.  A bank may also establish and operate a de     
novo branch in a state in which the bank does not maintain a branch if that     
state expressly permits de novo branching.  Once a bank has established         
branches in a state through an interstate merger transaction, the bank may      

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establish and acquire additional branches at any location in the state where    
any bank involved in the interstate merger transaction could have established   
or acquired branches under applicable federal or state law.  A bank that has    
established a branch in a state through de novo branching may establish and     
acquire additional branches in such state in the same manner and to the same    
extent as a bank having a branch in such state as a result of an interstate     
merger.                                                                         

The merger of BNY with another bank would require the approval of the 
Federal Reserve Board or other federal bank regulatory authority and, if the    
surviving bank is a New York state bank, the New York Superintendent of Banks.  

In reviewing bank acquisition and merger applications, the bank       
regulatory authorities will consider, among other things, the competitive       
effect of the transaction, financial and managerial issues including the        
capital position of the combined organization, and convenience and needs        
factors, including the applicant's record under the Community Reinvestment      
Act.                                                                            

 Under Federal Reserve Board policy, the Company is expected to act as a
source of financial strength to its banks and to commit resources to support    
such banks in circumstances where it might not do so absent such policy.  In    
addition, any loans by the Company to its banks would be subordinate in right   
of payment to depositors and to certain other indebtedness of its banks.        

Restrictions on Transfer of Funds                                               

  Restrictions on the transfer of funds to the Company and subsidiary bank
dividend limitations are discussed in Note 10 to the Consolidated Financial     
Statements included in Exhibit 13.  Such discussion is incorporated herein by   
reference.                                                                      

Cross Guarantees                                                                

 Under FDICIA, a financial institution insured by the FDIC that is under
common control with a failed or failing FDIC-insured institution can be         
required to indemnify the FDIC for losses resulting from the insolvency of the  
failed institution, even if this causes the affiliated institution also to      
become insolvent.  Any obligation or liability owed by a subsidiary depository  
institution to its parent company is subordinate to the subsidiary's cross-     
guarantee liability with respect to commonly controlled insured depository      
institutions and to the rights of depositors.                                   

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ADDITIONAL FINANCIAL INFORMATION                                                
--------------------------------                                                

                                                        [Enlarge/Download Table]

Average Balances and Rates on a Taxable Equivalent Basis (dollars in millions)                          
------------------------------------------------------------------------------                          

                                   2000                       1999                       1998           
                        -------------------------  -------------------------   ------------------------ 
                        Average           Average  Average           Average   Average          Average 
                        Balance  Interest   Rate   Balance  Interest   Rate    Balance  Interest  Rate  
                        -------------------------  -------------------------   ------------------------ 
                                                                                                        

Assets                                                                                                  
------                                                                                                  
Interest-Bearing                                                                                        
 Deposits in Banks                                                                                      
 (Primarily Foreign)    $ 5,385   $  273   5.07%   $ 5,500   $  247    4.49%   $ 3,437   $  184    5.35%
Federal Funds Sold                                                                                      
  and Securities                                                                                        
  Purchased Under                                                                                       
  Resale Agreements       4,468      277   6.20      4,236      205    4.83      3,880      203    5.24 
Loans                                                                                                   
 Domestic Offices                                                                                       
  Other Consumer          3,527      305   8.65      3,292      270    8.21      3,366      282    8.36 
  Commercial             15,815    1,125   7.11     16,415    1,148    6.99     16,407    1,229    7.49 
 Foreign Offices         19,920    1,482   7.44     19,174    1,219    6.36     18,567    1,264    6.81 
                        --------  ------           --------  ------            --------  ------         
 Total Loans             39,262    2,912*  7.41     38,881    2,637*   6.78     38,340    2,775*   7.24 
                        --------  ------           --------  ------            --------  ------         
Securities                                                                                              
 U.S. Government                                                                                        
  Obligations             3,326      210   6.33      3,373      202    5.98      3,638      213    5.85 
 Obligations of                                                                                         
  States and                                                                                            
  Political                                                                                             
  Subdivisions              621       50   8.06        588       46    7.86        672       54    7.98 
 Other Securities,                                                                                      
   including Trading                                                                                    
   Securities                                                                                           
  Domestic Offices        2,445      146   5.97      1,882       85    4.51      2,051      108    5.23 
  Foreign Offices         9,372      563   6.01      1,702       95    5.56        793       31    3.93 
                        --------  ------           --------  ------            --------  ------         
   Total Other                                                                                          
   Securities            11,817      709   6.00      3,584      180    5.01      2,844      139    4.87 
                        --------  ------           --------  ------            --------  ------         
 Total Securities        15,764      969   6.15      7,545      428    5.67      7,154      406    5.66 
                        --------  ------           --------  ------            --------  ------         
Total Interest-Earning                                                                                  
 Assets                  64,879   $4,431   6.83%    56,162   $3,517    6.26%    52,811   $3,568    6.76%
                                  ======                     ======                      ======         
Allowance for Credit                                                                                    
  Losses                   (608)                      (613)                       (643)                 
Cash and Due from                                                                                       
  Banks                   3,181                      3,174                       3,237                  
Other Assets              9,789                      8,054                       7,736                  
                        --------                   --------                    --------                 
Total Assets            $77,241                    $66,777                     $63,141                  
                        ========                   ========                    ========                 
Assets Attributable                                                                                     
to Foreign Offices **     47.41%                     41.39%                      38.79%                 
                          =====                      =====                       =====                  

<FN>                                                                                                    
 *Includes fees of $115 million in 2000, $130 million in 1999, and $120 million in 1998.                
  Nonaccrual loans are included in the average loan balance; the associated income, recognized          
  on the cash basis, is included in interest.                                                           

  Taxable equivalent adjustments were $54 million in 2000, $44 million in 1999, and $58 million         
  in 1998 and are based on the federal statutory tax rate (35%) and applicable state and local          
  taxes.                                                                                                

**Includes Cayman Islands branch office.                                                                

</FN>                                                                                                   

10-K 10th Page of 30 TOC 1st Previous Next ↓Bottom Just 10th

                                                        [Enlarge/Download Table]

Average Balances and Rates on a Taxable Equivalent Basis (dollars in millions)                                  
------------------------------------------------------------------------------                                  


                                         2000                         1999                        1998          
                              ---------------------------  --------------------------  -------------------------
                              Average             Average  Average            Average  Average           Average
                              Balance   Interest    Rate   Balance   Interest   Rate   Balance  Interest   Rate 
                              ---------------------------  --------------------------  -------------------------
                                                                                                                

Liabilities and                                                                                                 
Shareholders' Equity                                                                                            
--------------------                                                                                            
Interest-Bearing Deposits                                                                                       
  Domestic Offices                                                                                              
   Money Market Rate                                                                                            
    Accounts                  $ 5,827    $  290     4.98% $ 5,142     $  221    4.30%  $ 4,998    $  232   4.65%
   Savings                      7,599       197     2.59    7,757        177    2.28     7,682       193   2.51 
   Certificates of                                                                                              
    Deposit of $100,000                                                                                         
    or More                       448        26     5.80      526         26    5.03       687        37   5.41 
   Other Time Deposits          1,998       101     5.07    2,238         99    4.42     2,299       110   4.80 
                              -------    ------           -------     ------           -------    ------        
   Total Domestic Offices      15,872       614     3.87   15,663        523    3.34    15,666       572   3.65 
                              -------    ------           -------     ------           -------    ------        
  Foreign Offices                                                                                               
   Banks in Foreign Countries   6,894       324     4.71    6,402        264    4.12     5,422       246   4.53 
   Government and                                                                                               
    Official Institutions         621        38     6.09    1,178         55    4.67     1,205        65   5.39 
   Other Time and Saving       20,091     1,035     5.15   12,613        521    4.13     9,784       491   5.02 
                              -------    ------           -------     ------           -------    ------        
   Total Foreign Offices       27,606     1,397     5.06   20,193        840    4.16    16,411       802   4.88 
                              -------    ------           -------     ------           -------    ------        
   Total Interest-                                                                                              
    Bearing Deposits           43,478     2,011     4.63   35,856      1,363    3.80    32,077     1,374   4.28 
                              -------    ------           -------     ------           -------    ------        
Federal Funds Purchased                                                                                         
 and Securities Sold                                                                                            
 Under Repurchase                                                                                               
 Agreements                     2,673       153     5.73    2,940        131    4.45     3,147       145   4.60 
 Other Borrowed Funds           2,099       139     6.62    2,362        126    5.36     3,761       204   5.42 
Long-Term Debt                  2,884       204     7.06    2,306        152    6.57     1,972       136   6.90 
                              -------    ------           -------     ------           -------    ------        
      Total Interest-Bearing                                                                                    
        Liabilities            51,134    $2,507     4.90%  43,464     $1,772    4.07%   40,957    $1,859   4.54%
                                         ======                       ======                      ======        
Noninterest-Bearing Deposits                                                                                    
  Domestic Offices             11,185                      10,613                       10,109                  
  Foreign Offices                  92                          95                           76                  
                              -------                     -------                      -------                  
    Total Noninterest-                                                                                          
     Bearing Deposits          11,277                      10,708                       10,185                  
                              -------                     -------                      -------                  
Other Liabilities               7,850                       6,004                        5,850                  
Minority Interest - Preferred                                                                                   
 Securities                     1,500                       1,487                        1,233                  
Preferred Stock                     1                           1                            1                  
Common Shareholders' Equity     5,479                       5,113                        4,915                  
                              -------                     -------                      -------                  
Total Liabilities                                                                                               
  and Shareholders' Equity    $77,241                     $66,777                      $63,141                  
                              =======                     =======                      =======                  
Net Interest Earnings and                                                                                       
     Interest Rate Spread                $1,924     1.93%             $1,745    2.19%             $1,709   2.22%
                                         ======                       ======                      ======        
Net Yield on                                                                                                    
Interest-Earning Assets                             2.96%                       3.11%                      3.24%
                                                    =====                       =====                      =====
Liabilities Attributable                                                                                        
     to Foreign Offices         38.37%                      35.77%                      31.53%                  
                                ======                      ======                      ======                  

10-K 11th Page of 30 TOC 1st Previous Next ↓Bottom Just 11th

                                                        [Enlarge/Download Table]
Rate/Volume Analysis on a Taxable Equivalent Basis (in millions)                                               
----------------------------------------------------------------                                               


                                               2000 vs. 1999                             1999 vs. 1998         
                                  -------------------------------------      ----------------------------------

                                    Increase (Decrease)                      Increase (Decrease)               
                                     due to change in:                        due to change in:                
                                  ---------------------                      -------------------               
                                                               Total                                   Total   
                                  Average       Average       Increase       Average     Average      Increase 
                                  Balance        Rate        (Decrease)      Balance      Rate       (Decrease)
                                  -------       -------      ----------      -------     -------     ----------
                                                                                                               
Interest Income                                                                                                
---------------                                                                                                
Interest-Bearing Deposits                                                                                      
 in Banks                           $ (5)        $  31          $  26          $  96       $(33)       $  63   
Federal Funds Sold and Securities                                                                              
 Purchased Under Resale Agreements    12            60             72             18        (16)           2   
Loans                                                                                                          
  Domestic Offices                                                                                             
    Other Consumer                    20            15             35             (7)        (5)         (12)  
    Commercial                       (41)           18            (23)             1        (82)         (81)  
  Foreign Offices                     50           213            263             40        (85)         (45)  
                                    -----        ------         ------         ------      -----       ------  
    Total Loans                       29           246            275             34       (172)        (138)  
Securities                                                                                                     
 U.S. Government Obligations          (3)           11              8            (15)         4          (11)  
 Obligations of States and                                                                                     
  Political Subdivisions               3             1              4             (7)        (1)          (8)  
 Other Securities, including                                                                                   
  Trading Assets                                                                                               
  Domestic Offices                    29            32             61             (8)       (15)         (23)  
  Foreign Offices                    460             8            468             43         21           64   
                                    -----        ------         ------         ------      -----       ------  
    Total Other Securities           489            40            529             35          6           41   
                                    -----        ------         ------         ------      -----       ------  
    Total Securities                 489            52            541             13          9           22   
                                    -----        ------         ------         ------      -----       ------  
      Total Interest Income          525           389            914            161       (212)         (51)  
                                    -----        ------         ------         ------      -----       ------  
Interest Expense                                                                                               
----------------                                                                                               
Interest-Bearing Deposits                                                                                      
 Domestic Offices                                                                                              
  Money Market Rate Accounts          32            37             69              7        (18)         (11)  
  Savings                             (4)           24             20              2        (18)         (16)  
  Certificate of Deposits of                                                                                   
   $100,000 or More                   (4)            4              -             (9)        (2)         (11)  
  Other Time Deposits                (11)           13              2             (3)        (8)         (11)  
                                    -----        ------         ------         ------      -----       ------  
  Total Domestic Offices              13            78             91             (3)       (46)         (49)  
                                    -----        ------         ------         ------      -----       ------  
 Foreign Offices                                                                                               
  Banks in Foreign Countries          21            39             60             42        (24)          18   
Government and Official                                                                                        
   Institutions                      (31)           14            (17)            (1)        (9)         (10)  
  Other Time and Savings             362           152            514            126        (96)          30   
                                    -----        ------         ------         ------      -----       ------  
  Total Foreign Offices              352           205            557            167       (129)          38   
                                    -----        ------         ------         ------      -----       ------  
      Total Interest-Bearing                                                                                   
       Deposits                      365           283            648            164       (175)         (11)  
Federal Funds Purchased and                                                                                    
   Securities Sold Under                                                                                       
   Repurchase Agreements             (13)           35             22             (9)        (5)         (14)  
Other Borrowed Funds                 (15)           28             13            (76)        (2)         (78)  
Long-Term Debt                        40            12             52             22         (6)          16   
                                    -----        ------         ------         ------      -----       ------  
      Total Interest Expense         377           358            735            101       (188)         (87)  
                                    -----        ------         ------         ------      -----       ------  
Change in Net Interest Income       $148         $  31          $ 179          $  60      $ (24)        $ 36   
                                    =====        ======         ======         ======      =====       ======  

<FN>                                                                                                           
Changes which are not solely due to balance changes or rate changes are allocated to such                      
categories on the basis of the respective percentage changes in average balances and average                   
rates.                                                                                                         
</FN>                                                                                                          

10-K 12th Page of 30 TOC 1st Previous Next ↓Bottom Just 12th

Market Risk Management                                                          
----------------------                                                          

 Market risk is the risk of loss due to adverse changes in the financial
markets.  Market risk arises from derivative financial instruments, such as     
futures, forwards, swaps and options, and other financial instruments, such as  
loans, securities, deposits and other borrowings.  The Company's market risks   
are primarily interest rate and foreign exchange risk, as well as credit risk.  
Market risk associated with the Company's trading activities and                
asset/liability management activities is managed and controlled as discussed    
under "Market Risk Management", "Trading Activities and Risk Management" and,   
"Asset/Liability Management" in the "Management's Discussion and Analysis"      
section of Exhibit 13.  Such discussion is incorporated herein by reference.    

The information presented with respect to market risk is forward looking
information.  As such it is subject to risks and uncertainties that could       
cause actual results to differ materially from projected results discussed in   
this Report.  These include adverse changes in market conditions, the timing    
of such changes and the actions that management could take in response to       
these changes.                                                                  

Credit Risk Management                                                          
----------------------                                                          

Credit risk represents the possibility that the Company would suffer a
loss if a borrower or other counterparty were to default on its obligations to  
the Company.  Credit risk exposure arises primarily from lending activities,    
as well as from interest rate, foreign exchange, and securities processing      
products.  For derivative financial instruments, total credit exposure          
consists of current and potential exposure.  Current credit exposure            
represents the replacement cost of the transaction.  Potential credit exposure  
is a statistically based estimate of the future replacement cost of the         
transaction.  The Company has established policies and procedures to manage     
the level and composition of its credit risk on both a transaction and a        
portfolio basis.  In managing the aggregate credit extension to individual      
customers, the Company measures the amount at risk on derivative financial      
instruments as the total of current and potential credit exposure.              

  The Risk Management Sector is responsible for developing and maintaining
credit risk policies, as well as for overseeing and reviewing credit            
guidelines.  After development, credit risk policies are reviewed and approved  
by the Board of Directors.  Through the use of a credit approval process and    
established credit limits, the Company evaluates the credit quality of          
counterparties, industries, products, and countries.  The Company seeks to      
reduce both on and off-balance-sheet credit risk through portfolio              
diversification, loan participations, syndications, asset sales, credit         
enhancements, risk reduction arrangements, and netting agreements.              

Although the Company attempts to minimize its exposure to credit risk,
this risk is inherent in the banking industry and can increase as a result of   
general economic developments.                                                  

10-K 13th Page of 30 TOC 1st Previous Next ↓Bottom Just 13th

Nonperforming Assets                                                            
--------------------                                                            

A summary of nonperforming assets is presented in the following table.          

                                                                [Download Table]


(in millions)                                     December 31,                   
                             ----------------------------------------------------
                              2000        1999        1998        1997       1996
                              ----        ----        ----        ----       ----
                                                                                 
Nonaccrual                                                                       
----------                                                                       
  Domestic                    $141        $ 83        $126        $159       $175
  Foreign                       48          63          53          34         38
                              ----        ----        ----        ----       ----
                               189         146         179         193        213
Real Estate Acquired                                                             
in Satisfaction of Loans         4          12          14          15         41
------------------------      ----        ----        ----        ----       ----
                              $193        $158        $193        $208       $254
                              ====        ====        ====        ====       ====
Past Due 90 Days or More                                                         
and Still Accruing Interest                                                      
---------------------------                                                      
Domestic:                                                                        
  Credit Card                 $  -        $  -        $  -        $  1       $215
  Other Consumer                 3           3           3           2          2
  Commercial                    23          13          26          75         30
                              ----        ----        ----        ----       ----
                                26          16          29          78        247
Foreign:                                                                         
  Banks                          -           3           -           -          -
                              ----        ----        ----        ----       ----
                              $ 26        $ 19        $ 29        $ 78       $247
                              ====        ====        ====        ====       ====


                                    2000      1999
                                    ----      ----
Nonperforming Asset Ratio                           0.5%      0.4%              
Allowance/Nonperforming Loans                     325.6     407.7               
Allowance/Nonperforming Assets                    319.6     376.9               

10-K 14th Page of 30 TOC 1st Previous Next ↓Bottom Just 14th

Allowance for Credit Losses                                                     
---------------------------                                                     

                                                        [Enlarge/Download Table]
The following table details changes in the Company's allowance for credit losses                  
for the last five years.                                                                          


(dollars in millions)                2000          1999          1998          1997          1996 
                                     ----          ----          ----          ----          ---- 
                                                                                                  
Loans Outstanding, December 31,   $36,261       $37,547       $38,386       $35,127       $37,006 
Average Loans Outstanding          39,262        38,881        38,340        36,577        36,698 

Allowance for Loan Losses                                                                         
-------------------------                                                                         
Balance, January 1                                                                                
    Domestic                        $ 485         $ 498         $ 441         $ 670         $ 515 
    Foreign                            71            69            44            38            82 
    Unallocated                        39            69           156           193           159 
                                    ------        ------        ------        ------        ------
Total, January 1                      595           636           641           901           756 
                                    ------        ------        ------        ------        ------
Allocations and Acquisitions (1)        -           (39)            4          (186)            - 

Charge-Offs                                                                                       
  Domestic                                                                                        
    Commercial and Industrial         (88)         (104)          (34)          (89)          (46)
    Real Estate & Construction          -            (5)            -             -           (11)
    Consumer                           (9)           (8)          (10)          (13)          (16)
    Credit Card                         -             -             -          (298)         (503)
  Foreign                              (3)          (37)           (7)           (3)           (4)
                                    ------        ------        ------        ------        ------
     Total                           (100)         (154)          (51)         (403)         (580)
                                    ------        ------        ------        ------        ------
Recoveries                                                                                        
  Domestic                                                                                        
    Commercial and Industrial          11            10             7             9            15 
    Real Estate & Construction          1             2             7             3             - 
    Consumer                            3             4             5             8             7 
    Credit Card                         -             -             -            23            62 

  Foreign                               1             1             3             6            41 
                                    ------        ------        ------        ------        ------
     Total                             16            17            22            49           125 
Net Charge-Offs                       (84)         (137)          (29)         (354)         (455)
                                    ------        ------        ------        ------        ------

Provision                             105           135            20           280           600 

Balance, December 31,                                                                             
  Domestic                            491           485           498           441           670 
  Foreign                              67            71            69            44            38 
  Unallocated                          58            39            69           156           193 
                                    ------        ------        ------        ------        ------
     Total, December 31,            $ 616         $ 595         $ 636         $ 641         $ 901 
                                    ======        ======        ======        ======        ======
Ratios                                                                                            
------                                                                                            
Net Charge-Offs to Average Loans                                                                  
 Outstandings                        0.21%         0.35%         0.08%         0.97%         1.24%
                                    ======        ======        ======        ======        ======
Net Charge-Offs to Total Allowance  13.64%        23.03%         4.56%        55.23%        50.50%
                                    ======        ======        ======        ======        ======
Total Allowance to Year-End Loans                                                                 
 Outstanding                         1.70%         1.58%         1.66%         1.82%         2.44%
                                     =====         =====         =====         =====         =====

<FN>                                                                                              
(1)  In 1999, $39 million was allocated to BNYFC loans sold. In 1997, $186 million of the         
allowance was allocated to credit card loans sold in 1997.                                        
</FN>                                                                                             

  At December 31, 2000, the Company's emerging markets exposures consisted
of $91 million in medium-term loans, $1,633 million in short-term loans,        
primarily trade related, and $203 million in investments.  In addition, the     
Company has $311 million of debt securities of emerging market countries,       
including $264 million (book value) of bonds whose principal payments are       
collateralized by U.S. Treasury zero coupon obligations and whose interest      
payments are partially collateralized.  Subsequent to December 31, 2000, the    
Company sold $164 million of its emerging market debt securities.  Emerging     
market countries where the Company has exposure include Argentina, Brazil,      
Bulgaria, China, Colombia, Costa Rica, Dominican Republic, Ecuador, Egypt,      
Honduras, Indonesia, Iraq, Jamaica, Malaysia, Mexico, Morocco, Panama, Peru,    
Philippines, Russia, Thailand, Uruguay, Venezuela, and Vietnam.                 

10-K 15th Page of 30 TOC 1st Previous Next ↓Bottom Just 15th

Securities                                                                      
----------                                                                      

                                                        [Enlarge/Download Table]

The following table shows the maturity distribution by carrying amount and yield                                
(not on a taxable equivalent basis) of the Company's securities portfolio at                                    
December 31, 2000.                                                                                              

                                                                                          Mortgage/             
                                          U.S.            States and      Other Bonds,    Asset-Backed          
                          U.S.            Government      Political       Notes and       and Equity            
                          Government      Agency          Subdivisions    Debentures      Securities            
                          -------------   -------------   -------------   -------------   -------------         
(dollars in millions)     Amount  Yield*  Amount  Yield*  Amount  Yield*  Amount  Yield*  Amount  Yield*   Total
                          ------  -----   ------  -----   ------  -----   ------  -----   ------  -----    -----
                                                                                                                
Securities Held-                                                                                                
----------------                                                                                                
 to-Maturity                                                                                                    
------------                                                                                                    
One Year or Less             $15  5.76%      $ 4   5.77%    $175   5.02%   $ 24    7.66%     $  -     -%    $218
Over 1 through 5 Years         3  6.18         -      -       24   6.00      88    3.97         -     -      115
Over 5 through 10 Years        -     -         -      -       25   6.87       1    7.12         -     -       26
Over 10 years                  -     -         -      -       13   6.77     280    6.75         -     -      293
Mortgage-Backed Securities     -     -         -      -        -      -       -       -       100  7.24      100
                             ---             ---            ----           ----              ----           ----
                             $18  5.84%      $ 4   5.77%    $237   5.41%   $393    6.18%     $100  7.24     $752
                             ===             ===            ====           ====              ====           ====
Securities Available-                                                                                           
---------------------                                                                                           
 for-Sale                                                                                                       
---------                                                                                                       
One Year or Less          $   12  5.92%    $  35   6.19%    $146   5.07%  $ 888    6.42%   $    -     -%  $1,081
Over 1 through 5 Years     1,335  5.78       855   7.18       38   5.61     176    5.91         -     -    2,404
Over 5 through 10 Years       20  5.26       334   6.44       81   5.52     123    6.71         -     -      558
Over 10 years                101  5.14         -      -      183   5.44     353    5.53         -     -      637
Mortgage-Backed Securities     -     -         -      -        -      -       -       -       512  6.83      512
Asset-Backed Securities        -     -         -      -        -      -       -       -       327  6.26      327
Equity Securities              -     -         -      -        -      -       -       -     1,130  2.54    1,130
                          ------          ------            ----         ------            ------         ------
                          $1,468  5.73%   $1,224   6.95%    $448   5.35% $1,540    6.18%   $1,969  4.27%  $6,649
                          ======          ======            ====         ======            ======         ======
<FN>                                                                                                            
*Yields are based upon the amortized cost of securities.                                                        
</FN>                                                                                                           

Loans                                                                           
-----                                                                           
The following table shows the maturity structure of the Company's commercial    
loan portfolio at December 31, 2000.                                            

                                                        [Enlarge/Download Table]

                                                               Over 1 Year                  
                                                      1 Year   Through      Over            
(in millions)                                         or Less  5 Years      5 Years    Total
                                                      -------  -----------  -------   ------
                                                                                            
Domestic                                                                                    
--------                                                                                    
Real Estate, Excluding Loans Collateralized                                                 
 by 1-4 Family Residential Properties                $   386     $ 1,185     $1,450  $ 3,021
Commercial and Industrial Loans                        3,110       8,425      2,268   13,803
Other, Excluding Loans to Individuals and those                                             
 Collateralized by 1-4 Family Residential Properties   4,031       1,068         60    5,159
                                                     -------     -------     ------  -------
                                                       7,527      10,678      3,778   21,983
Foreign                                                2,666       1,818        466    4,950
-------                                                                                     
                                                     -------     -------     ------  -------
   Total                                             $10,193     $12,496     $4,244  $26,933
                                                     =======     =======     ======  =======
Loans with:                                                                                 
  Predetermined Interest Rates                       $ 3,170     $   834     $1,377  $ 5,381
  Floating Interest Rates                              7,023      11,662      2,867   21,552
                                                     -------     -------     ------  -------
   Total                                             $10,193     $12,496     $4,244  $26,933
                                                     =======     =======     ======  =======

10-K 16th Page of 30 TOC 1st Previous Next ↓Bottom Just 16th

Deposits                                                                        
--------                                                                        
   The aggregate amount of deposits by foreign customers in domestic offices
was $5.2 billion, $7.1 billion, and $5.4 billion at December 31, 2000, 1999,    
and 1998.                                                                       
The following table shows the maturity breakdown of domestic time     
deposits of $100,000 or more at December 31, 2000.                              

                                                                [Download Table]

                                               Other                  
                          Certificates         Time                   
(in millions)             of Deposits          Deposits          Total
                          --------------------------------------------
                                                                      

3 Months or Less                 $490           $3,651          $4,141
Over 3 Through 6 Months           154                -             154
Over 6 Through 12 Months           91                -              91
Over 12 Months                    242               33             275
                                 ----           ------          ------
     Total                       $977           $3,684          $4,661
                                 ====           ======          ======

The majority of deposits in foreign offices are time deposits in      
denominations of $100,000 or more.                                              

Other Borrowed Funds                                                            
--------------------                                                            
Information related to other borrowed funds in 2000, 1999, and 1998 is          
presented in the table below.                                                   

                                                        [Enlarge/Download Table]

                                                2000                   1999                   1998      
                                          --------------------------------------------------------------
(dollars in millions)                              Average                Average                Average
                                          Amount     Rate       Amount      Rate       Amount      Rate 
                                          ------   -------      ------    -------      ------   --------
                                                                                                        
Federal Funds Purchased and Securities                                                                  
 Sold Under Repurchase Agreements                                                                       
  At December 31                          $1,108     4.12%      $1,318      2.46%      $1,571      3.78%
  Average During Year                      2,673     5.73        2,940      4.45        3,147      4.60 
  Maximum Month-End Balance During Year    3,698     6.45        3,639      2.58        4,684      4.65 

Other*                                                                                                  
  At December 31                          $1,710     5.07%      $1,595      3.97%      $2,963      4.86%
  Average During Year                      2,099     6.62        2,362      5.36        3,761      5.42 
  Maximum Month-End Balance During Year    2,385     4.97        3,476      4.70        3,467      5.07 

<FN>                                                                                                    
*Other borrowings consist primarily of commercial paper, bank notes, extended                           
 federal funds purchased, and amounts owed to the U.S. Treasury.                                        
</FN>                                                                                                   

Foreign Assets                                                                  
--------------                                                                  
 Foreign assets are subject to general risks attendant to the conduct of
business in each foreign country, including economic uncertainties and each     
foreign government's regulations.  In addition, the Company's foreign assets    
may be affected by changes in demand or pricing resulting from fluctuations in  
currency exchange rates or other factors.  At December 31, 2000, the Company    
had cross border exposure of more than 1% of its total assets in United         
Kingdom, totaling $3.0 billion, in Germany, totaling $2.1 billion, in Belgium,  
totaling $1.2 billion, in Italy, totaling $0.9 billion, and in France,          
totaling $0.8 billion.  The United Kingdom's assets consisted of $2.2 billion   
attributable to banks and other financial institutions and $730 million         
attributable to commercial, industrial and other companies.  Germany's assets   
consisted of $1.7 billion attributable to banks and other financial             
institutions, $148 million attributable to public sector entities, and $246     
million attributable to commercial, industrial and other companies.  Belgium's  
assets consisted of $1.0 billion attributable to banks and other financial      
institutions, $189 million attributable to public sector entities, and $35      
million attributable to commercial, industrial and other companies.  Italy's    
assets consisted of $917 million attributable to banks and other financial      
institutions and $18 million attributable to commercial, industrial and other   
companies.  France's assets consisted of $292 million attributable to banks     
and other financial institutions, $6 million attributable to public sector      
entities, and $524 million attributable to commercial, industrial and other     
companies.                                                                      

10-K 17th Page of 30 TOC 1st Previous Next ↓Bottom Just 17th

                                                        [Enlarge/Download Table]


EXECUTIVE OFFICERS OF THE REGISTRANT AND BUSINESS EXPERIENCE DURING THE PAST FIVE YEARS   
------------------------------------------------------------------------------------------

                                                                                   Company
                                                                                   Officer
Name                           Office and Experience                          Age   Since 
----                           ---------------------                          ---  -------
                                                                                          
Thomas A. Renyi     1998-2001  Chairman and Chief Executive Officer           55    1992  
                               of the Company and the Bank                                
                    1997-1998  President and Chief Executive Officer of                   
                               the Company and the Bank                                   
                    1996-1997  President of the Company and President and                 
                               Chief Executive Officer of the Bank                        

Alan R. Griffith    1996-2001  Vice Chairman of the Company and the Bank      59    1990  

Gerald L. Hassell   1998-2001  President of the Company and the Bank          49    1998  
                    1998-1998  Senior Executive Vice President of the Company             
                    1996-1998  Chief Commercial Banking Officer and                       
                               Senior Executive Vice President of the Bank                

Bruce W. Van Saun   1998-2001  Senior Executive Vice President of the         43    1998  
                               Company and Chief Financial Officer of the                 
                               Company and the Bank                                       
                    1997-1998  Executive Vice President and Chief Financial               
                               Officer of the Bank                                        
                    1996-1997  Chief Financial Officer Deutsche Bank                      
                               North America                                              

Robert J. Mueller   2000-2001  Senior Executive Vice President of the         59    2000  
                               Company and the Bank                                       
                    1998-2000  Senior Executive Vice President -                          
                               Asset Based Lending Sector of the Bank                     
                    1996-1998  Senior Executive Vice President and                        
                               Chief Credit Policy Officer of the Bank                    

J. Michael Shepherd      2001  Executive Vice President, General Counsel and  45    2001  
                               Secretary of the Company and Executive Vice                
                               President and General Counsel of the Bank                  
                    1996-2001  Partner, Brobeck, Phleger and Harrison, LLP                

Thomas J. Mastro    1999-2001  Comptroller of the Company and the Bank        51    1999  
                    1998-1999  Senior Vice President of the Bank                          
                    1996-1998  Vice President of the Bank                                 

Robert J. Goebert   1996-2001  Auditor of the Company, Senior Vice            59    1982  
                               President of the Bank                                      

<FN>                                                                                      

There are no family relationships between the executive officers of the Company. The terms
of office of the executive officers of the Company extend until the annual organizational 
meeting of the Board of Directors.                                                        
</FN>                                                                                     

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ITEM 2.  PROPERTIES                                                             
-------------------                                                             
 At December 31, 2000 in New York City, the Company owned the forty-nine
story building housing its executive headquarters at One Wall Street and an     
operations center at 101 Barclay Street.  The Company leases the land at the    
101 Barclay Street location under a lease expiring in 2080.  In addition, the   
Company owns and/or leases administrative and operations facilities in New      
York City; various locations in New Jersey and Connecticut; Harrison, New       
York; Newark, Delaware; Brussels, Belgium; London, England; and Utica, New      
York.  Other real properties owned or leased by the Company, when considered    
in the aggregate, are not material to its operations.                           

ITEM 3.  LEGAL PROCEEDINGS                                                      
--------------------------                                                      
The Company continues to cooperate with investigations by federal and 
state law enforcement and bank regulatory authorities. The investigations       
focus on funds transfer activities in certain accounts at BNY, principally      
involving wire transfers from Russian and other sources in Eastern Europe, as   
well as certain other matters involving BNY and its affiliates. The funds       
transfer investigations center around accounts controlled by Peter Berlin, his  
wife, Lucy Edwards (until discharged in September 1999, an officer of BNY),     
and companies and persons associated with them. Berlin and Edwards pled guilty  
to various federal criminal charges. The Company cannot predict when or on      
what basis the investigations will conclude or their effect, if any, on the     
Company.                                                                        

 On February 8, 2000, BNY entered into a written agreement with both the
Federal Reserve Bank of New York and the New York State Banking Department,     
which imposed a number of reporting requirements and controls. Substantially    
all of these reporting requirements and controls are now in place.              

Four purported shareholder derivative actions have been filed in      
connection with these Russian related matters - - two in the United States      
District Court for the Southern District of New York and two in the New York    
Supreme Court, New York County - - against certain directors and officers of    
the Company and BNY alleging that the defendants have breached their fiduciary  
duties of due care and loyalty by aggressively pursuing business with Russian   
banks and entities without implementing sufficient safeguards and failing to    
supervise properly those responsible for that business. The actions seek, on    
behalf of the Company and BNY, monetary damages from the defendants,            
corrective action and attorneys' fees. On September 1, 2000, plaintiffs in the  
two federal actions filed an amended, consolidated complaint that names all of  
the directors and certain officers of BNY and the Company as defendants,        
repeats the allegations of the original complaints and adds allegations that    
certain officers of BNY and the Company participated in a scheme to transfer    
cash improperly from Russia to various off-shore accounts and to avoid Russian  
customs, currency and tax laws. Management believes that the allegations of     
both the original and the amended complaint are without merit. On September     
12, 2000, the boards of directors of BNY and the Company authorized a Special   
Litigation Committee to consider the response of BNY and the Company to the     
state and federal court shareholder derivative actions.                         

 Additionally, on October 7, 1999, six alleged depositors of Joint Stock
Bank Inkombank ("Inkombank"), a Russian bank, filed a purported class action    
in the United States District Court for the Southern District of New York on    
behalf of all depositors of Inkombank who lost their deposits when that bank    
collapsed in 1998. The complaint, as subsequently amended twice, alleges that   
the Company and BNY and their senior officers knew about, and aided and         
abetted the looting of Inkombank by its principals and participated in a        
scheme to transfer cash improperly from Russia to various off-shore accounts    
and to avoid Russian customs, currency and tax laws. The amended complaint      
asserts causes of action for conversion and aiding and abetting conversion      
under New York law. In addition, the amended complaint states a claim under     
the Racketeer Influenced and Corrupt Organizations Act ("RICO"). On March 21,   
2001, the court dismissed the second amended complaint without leave to         
replead. Plaintiffs have not indicated whether they intend to appeal that       
decision.                                                                       

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On October 24, 2000, three alleged shareholders of Inkombank filed an 
action in the Supreme Court, New York County against the Company, BNY and       
Inkombank. The complaint alleges that the defendants fraudulently induced the   
plaintiffs to refrain from redeeming their alleged $40 million investment in    
Inkombank. The complaint asserts a single cause of action for fraud, seeking    
$40 million plus 12% interest from January 1994, punitive damages, costs,       
interest and attorney fees. The Company and BNY have moved to dismiss the       
amended compliant. That motion is pending. The Company and BNY believe that     
the allegations of the complaint are without merit and intend to defend the     
action vigorously.                                                              

  The Company does not expect that any of the foregoing civil actions will
have a material impact on the Company's consolidated financial statements.      

In the ordinary course of business, there are various legal claims    
pending against the Company and its subsidiaries. In the opinion of             
management, liabilities arising from such claims, if any, would not have a      
material effect on the Company's consolidated financial statements.             

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                    
------------------------------------------------------------                    
There were no matters submitted to a vote of security holders of the  
registrant during the fourth quarter of 2000.                                   

PART II                                                                         
-------                                                                         
ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS  
------------------------------------------------------------------------------  
Information with respect to the market for the Company's common equity
and related stockholder matters is incorporated herein by reference from the    
"Quarterly Data" section included in Exhibit 13.  The Company's securities      
that are listed on the New York Stock Exchange (NYSE), are indicated as such    
on the front cover of this report.  The NYSE symbol for the Company's Common    
Stock is BK.  All of the Company's other securities are not currently listed.   
The Company had 28,719 common shareholders of record at February 28, 2001.      

ITEM 6.  SELECTED FINANCIAL DATA                                                
--------------------------------                                                
Selected financial data are incorporated herein by reference from the 
corresponding section included in Exhibit 13.                                   

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL                      
CONDITION AND RESULTS OF OPERATIONS                           
----------------------------------------------------------                      
 Management's discussion and analysis of financial condition and results
of operations is incorporated herein by reference from the corresponding        
section of Exhibit 13.                                                          

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FORWARD LOOKING STATEMENTS                                                      

 The information presented with respect to, among other things, earnings
growth, projected business volume, the outcome of legal and investigatory       
proceedings, the Company's plans and objectives in moving into fee based        
business, and future loan losses, is forward looking information. Forward       
looking statements are the Company's current estimates or expectations of       
future events or future results.                                                

The Company or its executive officers and directors on behalf of the  
Company, may from time to time make forward looking statements. When used in    
this report, any press release or oral statements, the words "estimate",        
"forecast", "project", "anticipate", "expect", "intend", "believe", "plan",     
"goal", and words of like import are intended to identify forward looking       
statements in addition to statements specifically identified as forward         
looking statements.                                                             

Forward looking statements, including the Company's future results of 
operations, discussions of future plans and other forward looking statements    
contained in Management's Discussion and Analysis and elsewhere in this Form    
10-K, are subject to risks and uncertainties, some of which are discussed       
herein, that could cause actual results to differ materially from projected     
results.  Forward looking statements, projections or future plans, could be     
affected by lower than expected performance or higher than expected costs in    
connection with acquisitions and integration of acquired businesses, changes    
in relationships with customers, variations in management projections or        
market forecasts and the actions that management could take in response to      
these changes, management's ability to achieve efficiency goals and changes in  
customer credit quality, as well as by a number of factors that the Company is  
necessarily unable to predict with accuracy.  These include future changes in   
interest rates, general credit quality, the level of capital market activity,   
economic activity, consumer behavior, government monetary policy, domestic and  
foreign legislation, regulation and investigation, competition, credit, market  
and operating risk, and loan demand.  This is not an exhaustive list and as a   
result of variations in any of these factors actual results may differ          
materially from any forward looking statements.                                 

 Forward looking statements speak only as of the date they are made. The
Company will not update forward looking statements to reflect facts,            
assumptions, circumstances or events which have changed after a forward         
looking statement was made.                                                     

Government Monetary Policies                                                    

The Federal Reserve Board has the primary responsibility for United   
States monetary policy.  Its actions have an important influence on the demand  
for credit and investments and the level of interest rates and thus on the      
earnings of the Company.                                                        

Competition                                                                     

The businesses in which the Company operates are very competitive.    
Competition is provided by both unregulated and regulated financial services    
organizations, whose products and services span the local, national, and        
global markets in which the Company conducts operations.                        

Commercial banks, savings banks, savings and loan associations, and   
credit unions actively compete for deposits, and money market funds and         
brokerage houses offer deposit-like services.  These institutions, as well as   
consumer and commercial finance companies, national retail chains, factors,     
insurance companies and pension trusts, are important competitors for various   
types of loans.  Issuers of commercial paper compete actively for funds and     
reduce demand for bank loans.  For personal and corporate trust services and    
investment counseling services, insurance companies, investment counseling      
firms, and other business firms and individuals offer active competition.  A    

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wide variety of domestic and foreign companies compete for processing           
services.                                                                       

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK             
--------------------------------------------------------------------            

See page 12 "Market Risk Management".                                 

Quantitative and qualitative disclosure about market risk are         
incorporated herein by reference from the "Market Risk Management", "Trading    
Activities and Risk Management", and "Asset/Liability Management" sections      
included in Exhibit 13.                                                         

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                            
----------------------------------------------------                            
   Consolidated financial statements and notes and the independent auditors'
report are incorporated herein by reference from Exhibit 13 to this Report.     

 Supplementary financial information is incorporated herein by reference
from the "Quarterly Data" section included in Exhibit 13.                       

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND        
FINANCIAL DISCLOSURE                                          
-------------------------------------------------------------------------       
There have been no events which require disclosure under Item 304 of  
Regulation S-K.                                                                 

PART III                                                                        
--------                                                                        
The material responsive to Items 10, 11, 12 and 13 is incorporated by 
reference to the Company's definitive proxy statement for its 2001 Annual       
Meeting, except for information as to Executive Officers set forth in Part I,   
Item 1.                                                                         

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PART IV                                                                         
-------                                                                         
ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K      
--------------------------------------------------------------------------      

(a) 1.  Financial Statements:                                                   

See Item 8.                                                           

(a) 2.  Financial Statement Schedules:                                          

  Financial statement schedules are omitted since the required information
is either not applicable, not deemed material, or is shown in the respective    
financial statements or in the notes thereto.                                   

(a) 3.  Listing of Exhibits:                                                    

A list of the exhibits filed or incorporated by reference appears     
following page 24 of this report, which information is incorporated by          
reference.                                                                      

(b) Reports on Form 8-K:                                                        

October 16, 2000: Unaudited interim financial information and         
accompanying discussion for the third quarter of 2000.                          

December 14, 2000: Projections and earnings estimates presented to the
financial analysts on December 14, 2000.                                        

January 16, 2001: Unaudited interim financial information and         
accompanying discussion for the fourth quarter of 2000.                         

(c) Exhibits:                                                                   

Submitted as a separate section of this report.                       

(d) Financial Statements Schedules:                                             

None                                                                  

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SIGNATURES                                                                      
----------                                                                      

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange  
Act of 1934, the registrant has duly caused this report to be signed on its     
behalf by the undersigned, hereunto duly authorized in New York, New York, on   
the 13th day of March, 2001.                                                    

                      THE BANK OF NEW YORK COMPANY, INC.

   By:  \s\ Thomas J. Mastro
                         -------------------------------------
      (Thomas J. Mastro,
  Comptroller)

   Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been duly signed below by the following persons on behalf of the     
registrant and in the capacities indicated on the 13th day of March, 2001.      

Signature                                         Title         
---------                                         -----         

\s\ Thomas A. Renyi                           Chairman of the Board, Chief      
------------------------------------          Executive Officer (Principal      
(Thomas A. Renyi)                             Executive Officer), and Director  

\s\ Gerald L. Hassell                         President and Director            
------------------------------------                                            
(Gerald L. Hassell)                                                             

\s\ Alan R. Griffith                          Vice Chairman and Director        
------------------------------------                                            
(Alan R. Griffith)                                                              

\s\ Bruce W. Van Saun                         Senior Executive Vice President   
------------------------------------          and Chief Financial Officer       
(Bruce W. Van Saun)                           (Principal Financial Officer)     

\s\ Thomas J. Mastro                          Comptroller                       
------------------------------------          (Principal Accounting Officer)    
(Thomas J. Mastro)                                                              

\s\ J. Carter Bacot                           Director                          
------------------------------------                                            
(J. Carter Bacot)                                                               

\s\ Richard Barth                             Director                          
------------------------------------                                            
(Richard Barth)                                                                 

\s\ Frank J. Biondi, Jr.                      Director                          
------------------------------------                                            
(Frank J. Biondi, Jr.)                                                          

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\s\ William R. Chaney                         Director                          
------------------------------------                                            
(William R. Chaney)                                                             

\s\ Nicholas M. Donofrio                      Director                          
------------------------------------                                            
(Nicholas M. Donofrio)                                                          

\s\ Richard J. Kogan                          Director                          
------------------------------------                                            
(Richard J. Kogan)                                                              

\s\ John A. Luke, Jr.                         Director                          
------------------------------------                                            
(John A. Luke, Jr.)                                                             

\s\ John C. Malone                            Director                          
------------------------------------                                            
(John C. Malone)                                                                

\s\ Donald L. Miller                          Director                          
-----------------------------------                                             
(Donald L. Miller)                                                              

\s\ Catherine A. Rein                         Director                          
------------------------------------                                            
(Catherine A. Rein)                                                             

\s\ William C. Richardson                     Director                          
------------------------------------                                            
(William C. Richardson)                                                         

\s\ Brian L. Roberts                          Director                          
------------------------------------                                            
(Brian L. Roberts)                                                              

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INDEX TO EXHIBITS                                                               

Exhibit No.                                                                     
----------                                                                      

3  (a)  The By-Laws of The Bank of New York Company, Inc. as amended through    
November 14, 2000.                                              

 (b)  Restated Certificate of Incorporation of The Bank of New York Company,
      Inc. dated June 13, 2000, incorporated by reference to Exhibit 3(i) to
 the Company's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2000.                                                  

4  (a)  None of the outstanding instruments defining the rights of holders of   
   long-term debt of the Company represent long-term debt in excess of
     10% of the total assets of the Company.  The Company hereby agrees to
furnish to the Commission, upon request, a copy of any of such  
instrument.                                                     

(b)  Rights Agreement, including form of Preferred Stock Purchase Right,  
   dated as of December 10, 1985 between The Bank of New York Company,
Inc. and The Bank of New York, as Rights Agent, incorporated by 
   reference to the Company's registration statement on Form 8-A dated
December 18,1985.                                               

(c)  First Amendment, dated as of June 13, 1989, to the Rights Agreement, 
      including form of Preferred Stock Purchase Right, dated as of December
    10, 1985, between The Bank of New York Company, Inc. and The Bank of
     New York, as Rights Agent, incorporated by reference to the amendment
on Form 8, dated June 14, 1989, to the Company's Registration   
 Statement on Form 8-A, dated December 18, 1985. (File No. 1-6152)

 (d)  Second Amendment, dated as of April 30, 1993, to the Rights Agreement,
      including form of Preferred Stock Purchase Right, dated as of December
    10, 1985, between The Bank of New York Company, Inc. and The Bank of
     New York,  as Rights Agent incorporated by reference to the amendment
on Form 8-A/A, filed May 3, 1993, to the Company's Registration 
 Statement on Form 8-A, dated December 18, 1985. (File No. 1-6152)

(e)  Third Amendment, dated as of March 8, 1994, to the Rights Agreement, 
    dated as of December 10, 1985, between The Bank of New York Company,
Inc. and The Bank of New York, as Rights Agent, incorporated by 
      reference to the amendment on Form 8-A/A, filed March 24, 1994, to the
      Company's Registration Statement on Form 8-A, dated December 18, 1985.
(File No. 1-6152)                                               

*10(a)  Amendment dated October 1, 1997 to the Trust Agreement dated            
November 16, 1993 related to executive compensation agreements, 
  incorporated by reference to Exhibit 10(a) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1997.       

*(b)  Consulting Agreement dated November 5, 1997, incorporated by reference
    to Exhibit 10(f) to the Company's Annual Report on Form 10-K for the
year ended December 31, 1997.                                   

*(c)  Compensation Agreement dated April 17, 1997, incorporated by reference
    to Exhibit 10(g) to the Company's Annual Report on Form 10-K for the
year ended December 31, 1997.                                   

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*(d)  1984 Stock Option Plan of The Bank of New York Company, Inc. as       
amended through February 23, 1988, incorporated by reference to 
      Exhibit 10(a) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1988.                                        

*(e)  Amendment dated October 11, 1994 to 1984 Stock Option Plan of The Bank
     of New York Company, Inc., incorporated by reference to Exhibit 10(b)
to the Company's Annual Report on Form 10-K for the year ended  
December 31, 1994.                                              

*(f)  The Bank of New York Company, Inc. Excess Contribution Plan as amended
    through July 10, 1990, incorporated by reference to Exhibit 10(b) to
the Company's Annual Report on Form 10-K for the year ended     
December 31, 1990.                                              

*(g)  Amendments dated February 23, 1994 and November 9, 1993 to The Bank of
New York Company, Inc. Excess Contribution Plan, incorporated by
      reference to Exhibit 10(c) to the Company's Annual Report on Form 10-K
for the year ended December 31, 1993.                           

*(h)  Amendment to The Bank of New York Company, Inc. Excess Contribution   
  Plan dated November 14, 1995, incorporated by reference to Exhibit
    10(l) to the Company's Annual Report on Form 10-K for the year ended
December 31, 1997.                                              

*(i)  The Bank of New York Company, Inc. Excess Benefit Plan as amended     
    through December 8, 1992, incorporated by reference to Exhibit 10(d)
to the Company's Annual Report on Form 10-K for the year ended  
December 31, 1993.                                              

*(j)  Amendments dated February 23, 1994 and November 9, 1993 to The Bank   
of New York Company, Inc. Excess Benefit Plan, incorporated by  
      reference to Exhibit 10(c) to the Company's Annual Report on Form 10-K
for the year ended December 31, 1993.                           

*(k)  Amendment dated May 10, 1994 to The Bank of New York Company, Inc.    
      Excess Benefit Plan, incorporated by reference to Exhibit 10(g) to the
Company's Annual report on Form 10-K for the year ended         
December 31, 1994.                                              

*(l)  Amendment dated November 14, 1995 to The Bank of New Company, Inc.    
      Excess Benefit Plan, incorporated by reference to Exhibit 10(i) to the
Company's Annual report on Form 10-K for the year ended         
December 31, 1995.                                              

*(m)  1994 Management Incentive Compensation Plan of The Bank of New York   
Company, Inc., incorporated by reference to Exhibit 10(g) to the
Company's Annual Report on Form 10-K for the year ended         
December 31, 1993.                                              

*(n)  Amendment dated January 12, 1999 to the 1994 Management Incentive     
    Compensation Plan of The Bank of New York Company, Inc, incorporated
by reference to exhibit 10(r) to the Company's annual report on 
Form 10-K for the year ended December 31, 1998.                 

*(o)  1988 Long-Term Incentive Plan as amended through December 8, 1992,    
  incorporated by reference to Exhibit 10(f) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1992.       

10-K 27th Page of 30 TOC 1st Previous Next ↓Bottom Just 27th

*(p)  Amendment dated October 11, 1994 to the 1988 Long-Term Incentive Plan 
   of The Bank of New York Company, Inc., incorporated by reference to
      Exhibit 10(j) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1994.                                        

*(q)  The Bank of New York Company, Inc. 1993 Long-Term Incentive Plan,     
  incorporated by reference to Exhibit 10(m) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1992.       

*(r)  Amendment dated October 11, 1994 to the 1993 Long-Term Incentive Plan 
   of The Bank of New York Company, Inc., incorporated by reference to
      Exhibit 10(l) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1994.                                        

*(s)  Amendment dated December 10, 1996 to the 1993 Long-Term Incentive Plan
   of The Bank of New York Company, Inc., incorporated by reference to
      Exhibit 10(g) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1996.                                        

*(t)  Amendment dated January 14, 1997 to the 1993 Long-Term Incentive Plan 
   of The Bank of New York Company, Inc., incorporated by reference to
      Exhibit 10(h) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1996.                                        

*(u)  Amendment dated March 11, 1997 to the 1993 Long-Term Incentive Plan of
The Bank of New York Company, Inc., incorporated by reference to
      Exhibit 10(i) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1996.                                        

*(v)  Amendment dated July 14, 1998 to the 1993 Long-Term Incentive Plan of 
      The Bank of New York Company, Inc incorporated by reference to Exhibit
    10(z) to the Company's Annual Report on Form 10-K for the year ended
December 31, 1998.                                              

*(w)  The Bank of New York Company, Inc. 1999 Long-Term Incentive Plan,     
   incorporated by reference to Exhibit 10(aa) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1998.       

*(x)  The Bank of New York Company, Inc. Supplemental Executive             
  Retirement Plan, incorporated by reference to Exhibit 10(n) to the
     Company's  Annual Report on Form 10-K for the year ended December 31,
1992.                                                           

*(y)  Amendment dated March 9, 1993 to The Bank of New York Company, Inc.   
    Supplemental Executive Retirement Plan, incorporated by reference to
      Exhibit 10(k) to the Company's Annual Report On Form 10-K for the year
ended December 31, 1993.                                        

*(z)  Amendment effective October 11, 1994 to The Bank of New York Company, 
      Inc. Supplemental Executive Retirement Plan, incorporated by reference
    to Exhibit 10(o) to the Company's Annual Report on Form 10-K for the
year ended December 31, 1994.                                   

10-K 28th Page of 30 TOC 1st Previous Next ↓Bottom Just 28th

*(aa) Amendment dated June 11, 1996 to The Bank of New York Company, Inc.   
    Supplemental Executive Retirement Plan, incorporated by reference to
      Exhibit 10(a) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1996.                                        

*(bb) Amendment dated November 12, 1996 to The Bank of New York Company,    
      Inc. Supplemental Executive Retirement Plan, incorporated by reference
    to Exhibit 10(b) to the Company's Annual Report on Form 10-K for the
year ended December 31, 1996.                                   

*(cc) Amendment dated December 23, 1999 to the Trust Agreement dated        
    November 16, 1993 related to executive compensation, incorporated by
  reference to Exhibit 10(gg) to the Company's Annual Report on Form
10-K for the year ended December 31, 1999.                      

*(dd) Trust Agreement dated November 16, 1993 related to certain executive  
compensation plans and agreements, incorporated by reference to 
      Exhibit 10(m) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1993.                                        

*(ee) Amendment dated October 11, 1994 to Trust Agreement dated November 16,
     1993, related to certain executive compensation plans and agreements,
  incorporated by reference to Exhibit 10(r) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1994.       

*(ff) Trust Agreement dated December 15, 1994 related to certain executive  
compensation plans and agreements, incorporated by reference to 
      Exhibit 10(s) to the Company's Annual Report on Form 10-K for the year
ended December 31, 1994.                                        

*(gg) Amendment dated December 10, 1996 to The Bank of New York Company,    
     Inc. Excess Benefit Plan, incorporated by reference to Exhibit 10(kk)
to the Company's Annual Report on Form 10-K for the year ended  
December 31, 1999.                                              

*(hh) Amendment dated January 14, 1997 to the Trust Agreement dated         
November 16, 1993 related to executive compensation agreements, 
  incorporated by reference to Exhibit 10(d) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1996.       

*(ii) Amendment dated January 31, 1997 to the Trust Agreement dated         
November 16, 1993 related to executive compensation agreements, 
  incorporated by reference to Exhibit 10(c) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1996.       

*(jj) Consulting Agreement dated June 18, 1999, incorporated by reference   
 to Exhibit 10(nn) to the Company's Annual Report on Form 10-K for
the year ended December 31, 1999.                               

*(kk) Amendment dated September 11, 1998 to the Trust Agreement dated       
November 16, 1993 related to executive compensation agreements, 
Incorporated by reference to Exhibit 10(oo) to the the Company's
Annual Report on Form 10-K for the year ended December 31,1998. 

*(ll) Form of Remuneration Agreement between the Company and one of the five
      most highly compensated executive officers of the Company incorporated
      by reference to Exhibit 10 to the Company's Annual Report on Form 10-K
for the year ended December 31, 1982.                           

*(mm) Form of Tax Reimbursement Agreement dated as of July 13, 1994 between 
 the Company and two of the five most highly compensated executive
      officers of the Company, incorporated by reference to Exhibit 10(u) to
the Company's Annual Report on Form 10-K for the year ended     
December 31, 1994.                                              

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*(nn) Form of Remuneration Agreement dated October 11, 1994 between the     
     Company and three of the five most highly compensated officers of the
    Company, incorporated by reference to Exhibit 10(v) to the Company's
Annual Report on Form 10-K for the year ended December 31, 1994.

*(oo) The Bank of New York Company, Inc. Retirement Plan for Non-Employee   
      Directors, incorporated by reference to Exhibit 10(r) to the Company's
Annual Report on Form 10-K for the year ended December 31, 1994,

*(pp) Amendment dated November 8, 1994 to The Bank of New York Company, Inc.
     Retirement Plan for Non-Employee Directors, incorporated by reference
    to Exhibit 10(x) to the Company's Annual Report on Form 10-K for the
year ended December 31, 1994.                                   

*(qq) Amendment dated February 9, 1999 to The Bank of New York Company, Inc.
     Retirement Plan for Non-Employee Directors, Incorporated by reference
     To Exhibit 10(uu) to the Company's Annual Report on Form 10-K for the
Year ended December 31, 1998.                                   

*(rr) Deferred Compensation Plan for Non-Employee Directors of The Bank of  
      New  York Company, Inc., incorporated by reference to Exhibit 10(s) to
the Company's Annual Report on Form 10-K for the year ended     
December 31, 1993.                                              

*(ss) Amendment dated November 8, 1994 to Deferred Compensation Plan for    
Non-Employee Directors of The Bank of New York Company, Inc.,   
  incorporated by reference to Exhibit 10(z) to the Company's Annual
Report on Form 10-K for the year ended December 31, 1994.       

*(tt) Amendment dated February 11, 1997 to the Directors' Deferred          
      Compensation Plan for The Bank of New York Company, Inc., incorporated
    by reference to Exhibit 10(j) to the Company's Annual Report on Form
10-K for the year ended December 31, 1996.                      

*(uu) Enhanced Severance Agreement dated July 8, 1997, incorporated by      
reference to Exhibit 10(yy) to the Company's Annual Report on   
Form 10-K for the year ended December 31, 1999.                 

*(vv) Amendment to The Bank of New York Company, Inc. 1993 Long-Term        
 Incentive Plan, incorporated by reference to Exhibit 10(a) to the
Company's Quarterly Report on Form 10-Q for the quarter ended   
September 30, 2000.                                             

*(ww) Amendment to The Bank of New York Company, Inc. 1999 Long-Term        
 Incentive Plan, incorporated by reference to Exhibit 10(b) to the
Company's Quarterly Report on Form 10-Q for the quarter ended   
September 30, 2000.                                             

*(xx) Amendment to The Bank of New York Company, Inc. Retirement Plan for   
  Non-Employee Directors, incorporated by reference to Exhibit 10(c)
    to the Company's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2000.                                             

*(yy) Amendment to Deferred Compensation Plan for Non-Employee Directors Of 
The Bank of New York Company, Inc, incorporated by reference to 
    Exhibit 10(d) to the Company's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2000.                               

*(zz) Amendment to The Bank of New York Company, Inc. Supplemental Executive
  Retirement Plan, incorporated by reference to Exhibit 10(e) to the
Company's Quarterly Report on Form 10-Q for the quarter ended   
September 30, 2000.                                             

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*(aaa) Amendment Number Twelve To Grantor Trust Agreement, incorporated by    
    reference to Exhibit 10(f) to the Company's Quarterly Report on Form
10-Q for the quarter ended September 30, 2000.                  

*(bbb) Employee Severance Agreement dated July 11, 2000, incorporated         
  by reference to Exhibit 10(g) to the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2000.             

*(ccc) Employee Severance Agreement dated July 11, 2000, incorporated         
  by reference to Exhibit 10(h) to the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2000.             

*(ddd) Employee Severance Agreement dated July 11, 2000, incorporated         
  by reference to Exhibit 10(i) to the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2000.             

*(eee) Employee Severance Agreement dated July 11, 2000, incorporated         
  by reference to Exhibit 10(j) to the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2000.             

*(fff) Employee Severance Agreement dated July 11, 2000, incorporated         
  by reference to Exhibit 10(k) to the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2000.             

*(ggg) Amendment dated February 13, 2001 to The Bank of New York Company,     
Inc. Supplemental Executive Retirement Plan.                    

*(hhh) Employee Severance Agreement dated January 22, 2001 for an executive   
officer of the Company.                                         

*(iii) Description of Remuneration Agreement dated December 13, 2000          
between the Company and an executive office of the Company.     

*(jjj) Amendment Number Thirteen To Grantor Trust Agreement.                  

12      Statement - Re: Computation of Earnings to Fixed Charges Ratios         

13      Portions of the 2000 Annual Report to Shareholders                      

21      Subsidiaries of the Registrant                                          

23.1    Consent of Ernst & Young LLP                                            

* Constitutes a Management Contract or Compensatory Plan or Arrangement

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘10-K’ Filing	Date	First	Last	Other Filings

	5/8/01	2		DEF 14A
Filed on:	3/29/01
	3/21/01	18
	2/28/01	1	19
	2/13/01	30		SC 13G/A
	1/22/01	30
	1/16/01	22		8-K
For Period End:	12/31/00	1	18	8-K
	12/14/00	22		8-K
	12/13/00	30
	11/14/00	25		10-Q
	10/24/00	19
	10/16/00	22		8-K
	9/30/00	29	30	10-Q, 8-K
	9/12/00	18
	9/1/00	18
	8/11/00	2		10-Q
	7/11/00	30
	6/30/00	25		10-Q, 424B3, 8-K
	6/13/00	25
	3/11/00	2
	2/8/00	18
	12/31/99	5	29	10-K, 8-K
	12/23/99	28
	10/7/99	18
	6/18/99	28
	2/9/99	29
	1/12/99	26
	12/31/98	16	29	10-K, 8-K
	9/11/98	28
	7/14/98	27
	12/31/97	25	26	10-K
	11/5/97	25
	10/1/97	25
	7/8/97	29
	5/31/97	7
	4/17/97	25
	3/11/97	27		SC 13G/A
	2/11/97	29
	1/31/97	28
	1/14/97	27	28
	1/1/97	7
	12/31/96	27	29	10-K
	12/10/96	27	28	8-K
	11/12/96	28		10-Q, S-3
	6/11/96	28
	12/31/95	26		10-K
	11/14/95	26		8-K
	12/31/94	26	29	10-K
	12/15/94	28
	11/8/94	29
	10/11/94	26	29
	7/13/94	28
	5/10/94	26		DEF 14A
	3/24/94	25
	3/8/94	25		8-K
	2/23/94	26
	12/31/93	26	29	10-K, 10-K/A, 11-K
	11/16/93	25	28
	11/9/93	26
	5/3/93	25
	4/30/93	25
	3/9/93	27
	12/31/92	26	27
	12/8/92	26
				List all Filings

3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/23  Bank of New York Mellon Corp.     10-K       12/31/22  180:45M
 2/25/22  Bank of New York Mellon Corp.     10-K       12/31/21  183:46M
 2/25/21  Bank of New York Mellon Corp.     10-K       12/31/20  185:44M

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Filing Submission 0000009626-01-000009 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Bank of New York Co Inc – ‘10-K’ for 12/31/00

On: Thursday, 3/29/01, at 8:00pm ET · For: 12/31/00 · Accession #: 9626-1-9 · File #: 1-06152

Annual Report — Form 10-KFiling Table of Contents

10-K — 2000 Form 10-KDocument Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

3 Subsequent Filings that Reference this Filing

Annual Report — Form 10-K
Filing Table of Contents

10-K — 2000 Form 10-K
Document Table of Contents