FGIC SECURITIES PURCHASE INC
8-K, 2000-01-13
FINANCE SERVICES
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                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549



                                   FORM 8-K


                                CURRENT REPORT



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



       Date of Report (Date of earliest event reported): January 7, 2000
                                                         ---------------


                        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
                                                           --------------

<PAGE>

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

     An exhibit is filed herewith in connection with the Registration
Statement on Form S-3 (File No. 333-43729) 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 LLP relating to (i) the
incorporation by reference of their report dated February 12, 1999 relating to
the financial statements and schedules of General Electric Capital Corporation
("GE Capital") and consolidated affiliates as of December 31, 1998 and 1997
and for each of the years in the three-year period ended December 31, 1998,
appearing in GE Capital's Annual Report on Form 10-K for the year ended
December 31, 1998; and (ii) the reference to them under Experts in the
Preliminary Prospectus Supplement dated January 7, 2000 relating to the
Liquidity Facility of FGIC Securities Purchase, Inc. in support of $25,000,000
aggregate principal amount of County of Lancaster, Pennsylvania, General
Obligation Bonds, Series of 2000.


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:

                                    (d)  Consent of KPMG Peat Marwick LLP

<PAGE>

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


Dated: January 12, 2000

<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549









                        FGIC SECURITIES PURCHASE, INC.








                         EXHIBITS TO CURRENT REPORT ON
                        FORM 8-K DATED JANUARY 7, 2000









                                                Commission File Number 0-19564

<PAGE>

                                 Exhibit Index



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

(23)                Consents of experts and counsel:                        6

                           (d)   Consent of KPMG LLP

<PAGE>

                                                               Exhibit (23)(d)





To the Board of Directors
General Electric Capital Corporation


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 $25,000,000
principal amount plus interest Liquidity Facility in support of County of
Lancaster, Pennsylvania, General Obligation Bonds, Series of 2000 (the
"Preliminary Prospectus Supplement") of our report dated February 12, 1999
relating to the statement of financial position of General Electric Capital
Corporation and consolidated affiliates as of December 31, 1998 and 1997, and
the related statements of earnings, changes in share owners' equity and cash
flows for each of the years in the three-year period ended December 31, 1998,
and the related schedule, which report appears in the December 31, 1998 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 Preliminary Prospectus Supplement.




                                                 /s/ KPMG LLP
                                                 -------------
                                                 KPMG LLP



Stamford, Connecticut
January 12, 2000



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