No need to raise bank insurance cap - Fed's Olson

Federal Reserve Governor Mark Olson on Friday reiterated the U.S. central bank's opposition to raising the current $100,000 cap on insured bank deposits, saying such a move is not needed.

"With few, if any, benefits, raising the ceiling would risk incurring substantial net costs by expanding the safety net, increasing the government subsidy to banking, encouraging moral hazard, and reducing the incentive for market discipline," said Olson in prepared remarks to a conference sponsored by the Ch