UNITED STATES
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 27, 2006

Financial Security Assurance Holdings Ltd.

(Exact name of registrant as specified in its charter)

New York	1-12644	13-3261323
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

31 West 52^nd Street, New York, NY	10019
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (212) 826-0100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 420.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

(a) On January 27, 2006, senior officials of Financial Security Assurance Holdings Ltd. (the "Company") made a presentation that included certain preliminary year-end financial information about the Company. Attached as Exhibit 99.1 is the financial information presented

Item 7.01. Regulation FD Disclosure.

See Item 2.02(a), above.

Item 9.01. Financial Statements and Exhibits.

(c)  Exhibits.

99.1	Excerpt from presentation by senior officials of the Company, dated January 27, 2006.

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 hereunto duly authorized.

FINANCIAL SECURITY ASSURANCE

HOLDINGS LTD.

Date: January 27, 2006

By:

/s/ Bruce E. Stern

Name: Bruce E. Stern

Title: General Counsel and Managing Director

EXHIBIT INDEX

Exhibit Number	Description
99.1	Excerpt from presentation by senior officials of the Company, dated January 27, 2006.