FGIC SECURITIES PURCHASE INC
8-K, 2000-05-23
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): May 18, 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
                                                          --------------


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 4, 1999 relating to
the financial statements and schedules of General Electric Capital Corporation
("GE Capital") and consolidated affiliates as of December 31, 1999 and 1998
and for each of the years in the three-year period ended December 31, 1999,
appearing in GE Capital's Annual Report on Form 10-K for the year ended
December 31, 1999; and (ii) the reference to them under Experts in the
Prospectus Supplement relating to the Liquidity Facility of FGIC Securities
Purchase, Inc. in support of (i) $74,000,000 principal amount plus interest
Liquidity Facility in support of City of Fresno, California Sewer System
Subordinate Lien, Variable Rate Revenue Refunding Bonds, 2000 Series A.


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:

                                (j)     Consent of KPMG 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: Carolanne Gardner
                                                  ------------------
                                              Name: Carolanne Gardner



Dated: May 18, 2000


                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549







                        FGIC SECURITIES PURCHASE, INC.






                         EXHIBITS TO CURRENT REPORT ON
                          FORM 8-K DATED May 18, 2000









                                                Commission File Number 0-19564



                                 Exhibit Index

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

(23)                    Consents of experts and counsel:                6

                              (j)     Consent of KPMG LLP



                                               Exhibit (23)(j)

To the Board of Directors
General Electric Capital Corporation

     We consent to incorporation by reference in the Prospectus Supplement for
FGIC Securities Purchase, Inc. relating to the $74,000,000 principal amount
plus interest Liquidity Facility in support of City of Fresno, California
Sewer System Subordinate Lien, Variable Rate Revenue Refunding Bonds, 2000
Series A (the "Prospectus Supplement") of our report dated February 4, 2000
relating to the statement of financial position of General Electric Capital
Corporation and consolidated affiliates as of December 31, 1999 and 1998, 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, 1999,
and the related schedule, which report appears in the December 31, 1999 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.



Stamford, Connecticut
May 22, 2000



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