Financial frostbite from the Iceland bank crash will not affect Pembrokeshire County Council.

The assurance was given by a spokesman who said the authority’s investment portfolio of £96.3million does not include any stake with Icelandic banks or any of its UK subsidiaries.

“A budget monitoring report is given every quarter to cabinet, the last report revealing that as at June 30th, council investments totalling £96.3m have been made in UK-based financial institutions in accordance with approved Treasury policy,” he added.

The council could not reveal details of its portfolio as these are commercially sensitive and in the wrong hands could be damaging to its financial stability.

Carmarthenshire County Council also has no Icelandic investments, but Ceredigion has a £5.5m stake.

Top of the Welsh League of investors is Neath and Port Talbot with £20m, followed by Caerphilly with £15m.

The Dyfed-Powys Police Authority, with a £2m stake, is also one of eight Welsh local authorities and three police authorities which will feel the effects of having £66m invested with Icelandic banks, which are now in receivership.

The authority’s director of finance and resources, Andrew Bevan, said: “Dyfed-Powys Police has deposited £2m in two UK subsidiaries of Icelandic banks. These investments were made in accordance with Treasury management strategy, approved annually by the police authority which limits exposure in any one bank.

“As always we are working closely with our treasury consultant to keep ahead of any developments. We will ensure that everything is done to recover as much of our money as possible.

“Administrators have been appointed to review the finances of one of the banks and we remain confident that a significant part, if not all of the sum, will be redeemed.”

Chief Constable Ian Arundale, added: “I have carefully considered our financial position and, bearing in mind how quickly the economic conditions can change, I am currently confident that there will be no impact on front line operational policing in Dyfed-Powys.”

The UK Government has frozen all the British assets of Landsbanki, which is owned by internet bank Icesave, with 300,000 UK customers.

A Pembrokeshire Coast National Park Authority spokesman said the authority has no Icelandic investments.