NEW YORK - Bank of New York Co. said Tuesday that it was appointed by J.P. Morgan & Co. to supply U.S.-dollar funds-transfer clearing services to Morgan Guaranty Trust Co. of New York and several Morgan affiliates worldwide. The companies did not disclose the volume of transactions Morgan's business would bring to Bank of New York.

Bank of New York already handles more than 130,000 funds transfers daily in its U.S.-dollar clearing business and has relationships with 2,300 correspondent banks in more than 120 countries. The company said it is also the third-largest provider of U.S.-dollar payment services.

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