All of the following organizations provide insurance for municipal bonds EXCEPT?

SIPC, or the Securities Investor Protection Corporation, is primarily designed to protect customers of brokerage firms and does not insure municipal bonds. It provides limited coverage in the event of a brokerage firm failure, ensuring that customers can recover their securities and cash held at the brokerage.

On the other hand, organizations such as AMBAC (the American Municipal Bond Assurance Corporation), MBIAC (Municipal Bond Investors Assurance Corporation), and FGIC (Financial Guaranty Insurance Company) are specifically established to provide insurance for municipal bonds. They enhance the creditworthiness of these bonds, providing additional security to investors by guaranteeing the payment of principal and interest. This is critical for municipal bonds, as it mitigates risk for bondholders and enhances marketability.

Therefore, SIPC's focus on protecting investors in the securities market, rather than insuring municipal bond payments, makes it the correct answer in this context.