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): December 28, 1996
                                                  -----------------


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



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


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



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


Item 5.   Other Events 
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     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  9, 1996
relating  to  the financial  statements  and  schedules of  General  Electric
Capital Corporation ("GE Capital") and consolidated affiliates as of December
31,  1995 and 1994 and for  each of the years  in the three-year period ended
December 31, 1994, appearing in GE  Capital's Annual Report on Form 10-K  for
the  year ended  December 31,  1995;  and (ii)  the reference  to  them under
Experts in  the Prospectus Supplement dated December 28, 1996 relating to the
Liquidity Facility of FGIC Securities Purchase, Inc. in support of $8,000,000
principal amount  plus interest  of Floating Rate  Monthly Demand  Industrial
Development Revenue Bonds (Perrine Office Project).



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:

                         (k)  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:    Carolanne Gardner
                                          -----------------------------------
                                          Name:   Carolanne Gardner
                                          Title:  Asst. Secretary


Dated: December 30, 1996


                      SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C.  20549









                        FGIC SECURITIES PURCHASE, INC.








                        EXHIBITS TO CURRENT REPORT ON
                       FORM 8-K DATED DECEMBER 28, 1996










                                               Commission File Number 0-19564


                                EXHIBIT INDEX



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

(23)           Consents of experts and counsel:

                    (k)  Consent of KPMG Peat Marwick LLP