Egypt Central Bank orders closures before army ultimatum

Egypt's central bank has told banks to close branches early, ahead of an armed forces deadline on Wednesday that could trigger a military takeover backed by anti-government protesters.

The central bank also advanced the time for a foreign currency auction, a source said.

Banks must close their branches by 2 pm (12 pm GMT) instead of the usual 5 pm. The central bank will hold its currency auction at 10:30 am instead of 11 am and issue the result immediately afterwards instead of 12 noon, the financial source said.

Miltiary sources told Al-Masry Al-Youm the army's headline for President Mohamed Morsy to agree on a power-sharing deal with his rivals would end at 4.30 pm on Wednesday, an ultimatum the president has rejected.