An IC current reference includes a reference voltage V.sub.ref, a current mirror, and a transistor connected between the mirror input and a first I/O pin and which is driven by V.sub.ref. A resistor external to the IC and having a resistance R1 is coupled to the first I/O pin such that it conducts a current I.sub.ref which is proportional to V.sub.ref/R1; use of a low TC/VC resistor enables I.sub.ref to be an accurate and stable reference current. The current mirror provides currents which are proportional to I.sub.ref, at least one of which is provided at a second I/O pin for use external to the IC. One primary application of the reference current is as part of a regulation circuit for a negative supply voltage channel, which can be implemented with the same number of external components and I/O pins as previous designs, while providing superior performance.