The amount of U.K. local authority cash at risk after being deposited in Icelandic banks has now risen to more than £720 mln according to the BBC and fears are that the figure could possibly top the £1 bln mark. Council leaders are meeting ministers to push for the funds to be quaranteed by the government, which has so far baulked at giving such a quarantee. Kent county council alone is said to have had £50 mln deposited in Landsbanki and Heritable as well as Glitnir. When investment by 15 police authorities and Transport for London are added the figure reaches £860.5 mln. Meanwhile PM Gordon Brown says further action against Icelandic banks would be considered.