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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 29, 2001

                           FORD MOTOR CREDIT COMPANY
             (Exact name of registrant as specified in its charter)


         Delaware                      1-6368                38-1612444
- --------------------------    ------------------------   -------------------
(State or other juris-        (Commission File Number)     (IRS Employer
 diction of incorporation)                               Identification No.)

One American Road, Dearborn, Michigan                          48126
- ----------------------------------------                 -------------------
(Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code 313-322-3000

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ITEM 5. Other Events.

     Ford Motor Credit Company, a Delaware corporation (the "Company"), has
registered $42,700,000,000 principal amount of its Debt Securities ("Debt
Securities") pursuant to Registration Statement Nos. 333-91953 and 333-50090.
The Debt Securities were registered on Forms S-3 to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933. The Debt
Securities are to be issued under an Indenture dated as of February 1, 1985, as
supplemented, between the Company and The Chase Manhattan Bank as Trustee.

     The Company has created two series of Debt Securities under such Indenture,
as supplemented, one in the aggregate principal amount of $3,000,000,000
designated as 6 7/8% GlobLS due February 1, 2006 and one in the aggregate
principal amount of $2,000,000,000 designated as 7 3/8% GlobLS due February
1, 2011 (collectively, the "Notes"). The opinion and consent of Shearman &
Sterling consenting to the use of their name in the Prospectus relating to the
Notes are being filed as exhibits to this Report.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.


                                    EXHIBITS

DESIGNATION                   DESCRIPTION                METHOD OF FILING
- -----------                   -----------                ----------------
Exhibit 8             Opinion of Shearman & Sterling.    Filed with this Report.

Exhibit 23            Consent of Shearman & Sterling     Filed with this Report.
                      is contained in their opinion set
                      forth in Exhibit 8.
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                                   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 thereunto duly authorized on the date indicated.

                                        FORD MOTOR CREDIT COMPANY
                                                (Registrant)

Date: January 29, 2001                          By: /s/ E. E. Smith-Sulfaro
                                                    ------------------------
                                                        E. E. Smith-Sulfaro
                                                        Assistant Secretary
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                                 EXHIBIT INDEX

DESIGNATION              DESCRIPTION                     METHOD OF FILING
- -----------              -----------                     ----------------
Exhibit 8           Opinion of Shearman & Sterling.      Filed with this Report.

Exhibit 23          Consent of Shearman & Sterling       Filed with this Report.
                    is contained in their opinion set
                    forth in Exhibit 8.