FGIC SECURITIES PURCHASE INC
8-K/A, 1997-11-12
FINANCE SERVICES
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                      SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C.  20549



                                   FORM 8-K/A


                                CURRENT REPORT



                      Pursuant to Section 13 or 15(d) of
                     the Securities Exchange Act of 1934



Date of Report (Date of earliest event reported): September 25, 1997     
                                                  -----------------------


            FGIC SECURITIES PURCHASE, INC.       
     --------------------------------------------
     (Exact name of Registrant as specified in its charter)



   Delaware                     0-19564              13-3633082        
- -----------------------------------------------------------------------
(State or other                 (Commission         (I.R.S. Employer
jurisdiction of                 File Number)       Identification No.)
incorporation)


             115 Broadway, New York, New York  10006          
- --------------------------------------------------------------
          (Address of principal executive officers)    (Zip Code)



Registrant's telephone number, including area code: (212) 312-3000
                                                    --------------


Item 5.   Other Events 
- -------   -------------

     An exhibit is filed herewith in connection with the Registration
Statement on Form S-3 (File No. 33-84062) filed by FGIC Securities Purchase,
Inc. ("FGIC-SPI") with the Securities and Exchange Commission covering
Liquidity Facility Obligations in the principal amount of $1,000,000,000 plus
interest.  

     The exhibit consists of the consent of KPMG Peat Marwick LLP relating to
(i)  the incorporation by reference of their report dated February 7, 1997
relating to the financial statements and schedules of General Electric
Capital Corporation ("GE Capital") and consolidated affiliates as of December
31, 1996 and 1995 and for each of the years in the three-year period ended
December 31, 1996, appearing in GE Capital's Annual Report on Form 10-K for
the year ended December 31, 1996; and (ii) the reference to them under
Experts in the Preliminary Prospectus Supplement dated September 25, 1997
relating to the Liquidity Facility of FGIC Securities Purchase, Inc. in
support of $35,000,000 aggregate principal amount of General Obligation
Bonds, Series of 1997 to be issued by Easton Area School District,
Northampton and Bucks Counties, Pennsylvania.



Item 7.   Financial Statements, Pro Forma Financial Information and
- -------
Exhibits
          
                                   EXHIBITS

          Item 601 of
          Regulation S-K 
          Exhibit Reference
          Number
          ------

          (23)           Consents of experts and counsel:
   
                         (m)  Consent of KPMG Peat Marwick LLP
                                                                      


                                  SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.

                                   FGIC SECURITIES PURCHASE, INC.
                                   ------------------------------
                                             (Registrant)



                                   By:  /s//Steve Natko                      
                                        ---------------------
                                        Name: Steve Natko
                                        Title: Vice President


Dated: September 30, 1997




                      SECURITIES AND EXCHANGE COMMISSION

                           WASHINGTON, D.C.  20549





                        FGIC SECURITIES PURCHASE, INC.




                        EXHIBITS TO CURRENT REPORT ON 
                      FORM 8-K DATED SEPTEMBER 30, 1997





                                               Commission File Number 0-19564


                                EXHIBIT INDEX



Exhibit No.    Description                                  Page
- -----------    -----------                                  ----

(23)           Consents of experts and counsel:
   
                    (m)  Consent of KPMG Peat Marwick LLP



                                             Exhibit (23)(m)
    


To the Board of Directors
General Electric Capital Corporation

   
     We consent to incorporation by reference in the Preliminary
Prospectus Supplement for FGIC Securities Purchase, Inc. relating to the
$35,000,000 principal amount plus interest Liquidity Facility in support of
Easton Area School District Northampton and Bucks Counties, Pennsylvania
General Obligation Bonds, Series of 1997 (the "Preliminary Prospectus
Supplement") of our report dated February 7, 1997 relating to the statement
of financial position of General Electric Capital Corporation and
consolidated affiliates as of December 31, 1996 and 1995 and the related
statements of current and retained earnings and cash flows for each of the
years in the three-year period ended December 31, 1996, and related schedule
which report appears in the December 31, 1996 Annual Report on Form 10-K of
General Electric Capital Corporation.
    

     We also consent to the reference to our firm under the heading "Experts"
in the Prospectus Supplement.


                                    /s/ KPMG Peat Marwick LLP         
                                   -----------------------------------
                                   KPMG Peat Marwick LLP



Stamford, Connecticut
   
September 25, 1997
    




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