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POUR milk into large bowl. Add dry pudding mix. Beat with wire whisk 2 min. or until well blended. Let stand 5 min.
ARRANGE half of the wafers on bottom of 1-1/2-qt. serving bowl; top with half each of the pudding, banana slices and whipped topping. Repeat layers.
REFRIGERATE at least 3 hours or until ready to serve. Store leftover dessert in refrigerator.