I read some remarks made by Mr. David Holden who is responsible for public affairs at the Bank of Ireland. He said it was not within the bank's competency to pass on this reduction in interest rates. I cannot quite understand what he meant because, generally speaking, "competent" means that one is able to do the job in a reasonable manner. The day after the ECB interest rate cut, Mr. Holden said it was not within the bank's competency to pass it on. I remember reading his remarks and being entirely puzzled because I know Mr. Holden. He is quite well able to talk and disport himself but I wondered what he was at and what exactly he meant. I knew the story was only just beginning.