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§ 2. The use of present participle:

  • as adjectives: Existing rulebook, banking system, sweeping changes;

  • to form the continuous tenses: A further €200m would be written off against the private equity portfolio, which is currently running down, including € 100 m for goodwill impairment. For the past five years, the world's financial regulators have been working on a new set of rules for bank capital, called Basel 2;

  • 'have' + object + present participle: We will have a new branch ope­rating in June. All banks had people withdrawing their money after the crisis. I won have them taking this loan;

  • a present participle can sometimes replace a relative pronoun + verb: People who wish to open accounts = people wishing to open account;

  • Present participles/participle phrases such as adding/pointing out/reminding/warning can introduce statements in indirect spe­ech: The bank employee told me to fill in the form, reminding that a mi­nimum deposit should be $ 250;

  • verbs of sensation 'see', 'hear', 'feel', 'smell', 'perceive* and the verbs 'listen to', 'notice', 'observe' and 'watch' can be followed by object + present participle: The bank manager watched his emplo­yees doing their job properly;

  • 'catch/find/leave/keep' + object + present participle: He caught them stealing the money from the bank;

  • 'go/come/spend/waste/be busy'. 'Go' and 'come' can be followed by the participles of verbs of physical activity (set expressions: e. g., the verb shop): He goes swimming every day. I am going shopping today. 'Spend/waste' + an expression of time or money + present participle: She spent a lot of money buying her clothes. He was busy writing a report.

§ 3. A present participle phrase replacing a main clause:

  • when two actions by the same subject occur simultaneously it is us­ually possible to express one of them by a present participle. He answered the questions. He presented the evidence. = He answered the questions presenting the evidence;

  • when one action is immediately followed by another by the same sub­ject the first action can often be expressed by a present participle. The participle must be placed first: He cashed the cheque and paid all his debts. = Cashing the cheque he paid all his debts;

  • when the second action forms part of the first, or is a result of it we can express the second action by a present participle: She took a loan, buying a car.

§ 4. A present participle phrase replacing a subordinate clause:

♦ these constructions are chiefly found in written English. The present participle can replace 'as/since/because' + subject + verb, i. e., it can help to explain the action which follows: Knowing (As he knew) he wouldn't he able to find a bank on his journey he cashed his cheque;

  • note that 'being' at the beginning of a sentence will normally mean 'as he is/as he was': Being a student he was interested in foreign lan­guages;

  • the subject of the participle need not be the same as the subject of the following verb: The day being fine, we decided to go the country.