An increasing number of Dutch cities have admitted that they could suffer big losses because their huge deposits in ailing Icelandic bank Landsbanki might not be fully recovered, Dutch daily Trouw reported Tuesday.

These cities, which have more than 70 million euros (95.2 million U.S. dollars) in the bank, are posed to lose a big chunk of their savings as the Dutch government only guarantees 100,000 euros (136,000 dollars) for each account.

The municipality of Amstelveen heads the list, with a 15-million-euro (20.4-million-dollar) deposit at Landsbanki, closely followed by Pijnacker-Nootdorp and Goes, each with 12 million euros (16.3 million dollars).

Other cities include Dordrecht (11.4 million euros) (15.5 million dollars), The Hague (10 million euros) (13.6 million dollars), Alphen aan den Rijn (3 million euros) (4.1 million dollars), Veere (3 million euros) (4.1 million dollars) and Zundert (2.5 million euros) (3.4 million dollars).

The Dutch Ministry of Home Affairs has been assessing the scale of the damage. "We hope to be able to provide precise figures about the number of municipalities and provinces affected at the end of this week," the paper quoted a ministry spokesperson as saying.

The ministry has not been informed of any urgent financial difficulties of municipalities, the report said.

Under Dutch law, local governments that hit financial difficulties can rely on the Municipalities Fund.

Dutch local governments are not allowed to invest in the stock market, and many invest their surpluses in savings banks with high interest rates.

According to Sophie van't Westeinde, the Goes city alderman for finance, the city had acted within the law.

"When we put our money in the Landsbanki, it was still financially sound," she said.

The official said the government will have to cut back around 1 million euros (1.36 million dollars) on its annual budget of 100 million, meaning that certain large projects might be cancelled or postponed.