Step 1: Prepare a 2-1/2 to 3-quart glass serving bowl or trifle bowl.
Step 2: In a large bowl combine sweetened condensed milk with water; add in dry pudding mix and beat until well blended chill for 5-7 minutes.
Step 3: Fold in the whipped cream until thoroughly blended.
Step 4: Spoon 1 cup of the pudding mixture into the bottom of the bowl.
Step 5: Top with one-third of the vanilla wafers, bananas and pudding mixture; repeat layering twice ending with the pudding mixture on top --- chill for at least 2 hours before serving.
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