Egypt to close overnight lending window early ahead of deadline

Wednesday 03-07-2013 12:10 PM
Egypt to close overnight lending window early ahead of deadline

An employee counts money at a bank in Cairo February 20, 2011. REUTERS/Suhaib Salem

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CAIRO, July 3 (Reuters) - Egypt central bank moved its closing time for accessing overnight lending forward as a Wednesday army deadline that could trigger a military takeover backed by protesters approached, a banker said.

Banks must submit lending requests by 12:45 p.m. (1045 GMT) instead of 4:30 p.m. The central bank earlier told banks to close their branches three hours early and advanced the time for a foreign currency auction.

The military has set a deadline of about 5:00 p.m. for President Mohamed Mursi to agree to a power-sharing deal with his rivals, an ultimatum that Mursi has rejected.

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