More councils have reported that they have deposited money in Icelandic banks and their UK licensed subsidiaries, according to the Local Government Association.
The LGA said 123 authorities had a total of £919.6 million in the banks including Kent Council with the highest deposit of £50m followed by Nottingham with £41.6m.
The LGA said it was aware of 19 other public bodies that also had investments.
The Association and the government have set up a rapid response unit to help councils in severe difficulty.
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