Exhibit 23

                       CONSENT OF INDEPENDENT ACCOUNTANTS

We consent to the incorporation by reference in the Registration Statements of
Financial Security Assurance Holdings Ltd. on Form S-8 (File No. 33-78784) (1993
Equity Participation Plan), Form S-8 (File No. 33-92648) (Deferred Compensation
Plan), and Form S-3 (File Nos. 333-74165 and 333-92985) (Debt Securities, Common
Stock, Stock Purchase Contracts, Stock Purchase Units and Preferred Stock), of:

      1.    Our report dated February 4, 2002, on our audits of the consolidated
            balance sheets of Financial Security Assurance Holdings Ltd. and
            Subsidiaries as of December 31, 2001 and 2000, and the related
            consolidated statements of operations and comprehensive income,
            changes in shareholders' equity and cash flows for each of the three
            years in the period ended December 31, 2001 and on our audits of the
            financial statement schedule relating to the consolidated financial
            statements of Financial Security Assurance Holdings Ltd. and
            Subsidiaries, which report is included in this Annual Report on Form
            10-K for the fiscal year ended December 31, 2001; and

      2.    Our report dated February 4, 2002, on our audits of the consolidated
            balance sheets of Financial Security Assurance Inc. and Subsidiaries
            as of December 31, 2001 and 2000, and the related consolidated
            statements of operations and comprehensive income, changes in
            shareholders' equity and cash flows for each of the three years in
            the period ended December 31, 2001, which report is included in
            exhibit 99 to this Annual Report on Form 10-K for the fiscal year
            ended December 31, 2001.


/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP
New York, New York
March 27, 2002