FIRST TRUST OF INSURED MUNICIPAL BONDS SERIES 126
485BPOS, 1995-07-05
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     File No. 2-92267






SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004


POST-EFFECTIVE
AMENDMENT NO. 11


TO

FORM S-6

For Registration Under the Securities Act of 1933 of
Securities of Unit Investment Trusts Registered on Form N-8B-2


THE FIRST TRUST OF INSURED MUNICIPAL BONDS, SERIES 126
(Exact Name of Trust)


NIKE SECURITIES L.P.
(Exact Name of Depositor)


1001 Warrenville Road
Lisle, Illinois  60532


(Complete address of Depositor's principal executive
offices)



     NIKE SECURITIES L.P.     CHAPMAN AND CUTLER
     Attn:  James A. Bowen    Attn:  Eric F. Fess
     1001 Warrenville Road    111 West Monroe Street
     Lisle, Illinois  60532   Chicago, Illinois  60603


(Name and complete address of agents for service)


CONTENTS OF POST-EFFECTIVE AMENDMENT
OF REGISTRATION STATEMENT

This Post-Effective Amendment of Registration Statement
comprises the following papers and documents:

     The facing sheet

     The purpose of the Amendment

     The signatures






                           S-1

THE PURPOSE OF THE AMENDMENT

The purpose of this amendment is to terminate the
declaration made pursuant to Rule 24f-2 promulgated under
the Investment Company Act of 1940, as amended, because
Units of The First Trust of Insured Municipal Bonds, Series
126 are no longer being offered for sale in the secondary
market.  A final Rule 24f-2 Notice with respect to such
series has been filed concurrently with this filing.






                      S-2


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933,
the Registrant, The First Trust of Insured Municipal Bonds,
Series 126, certifies that it meets all of the requirements
for effectiveness of this Registration Statement pursuant to
Rule 485(b) under the Securities Act of 1933 and has duly
caused this Post-Effective Amendment of its Registration
Statement to be signed on its behalf by the undersigned
thereunto duly authorized in the Village of Lisle and State
of Illinois on July 5, 1995.

THE FIRST TRUST OF INSURED MUNICIPAL BONDS, SERIES 126
          (Registrant)
By   NIKE SECURITIES L.P.
          (Depositor)


     By   Carlos E. Nardo
          Senior Vice President

Pursuant to the requirements of the Securities Act of 1933,
this Post-Effective Amendment of Registration Statement has
been signed below by the following person in the capacity
and on the date indicated:

Signature Title*    Date

Robert D. Van Kampen     Sole Director of    )
                         Nike Securities     )
                         Corporation, the    )
                         General Partner     )   July 5, 1995
                         of Nike Securities L.P.  )
                                             )
                                             )
                                             )Carlos E. Nardo
                                             )Attorney-in-Fact**


*    The title of the person named herein represents his
capacity in and relationship to Nike Securities L.P., the
Depositor.

**   An executed copy of the related power of attorney was
filed with the Securities and Exchange Commission in
connection with Amendment No. 1 to Form S-6 of The First
Trust Special Situations Trust, Series 18 (File No. 33-
42683) and the same is hereby incorporated herein by this
reference.

S-3




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