A switching flyback regulator circuit for providing a plurality of regulated DC voltage supplies, wherein one of the regulator circuits includes a saturable reactor for regulating one of the output voltages. The flyback regulator circuit includes a primary inductive element coupled to a first switch to turn charging current flow through the primary inductive element ON and OFF, a first secondary inductive element having a first end coupled to supply a first power source and magnetically coupled with the primary inductive element, and a second secondary inductive element magnetically coupled with the primary inductive element. The second secondary inductive element has a first end coupled to produce the second power source and a second end coupled in series with the saturable reactor and a second switch to control current flow through the second secondary inductive element. A control circuit is coupled to control the ON and OFF duty cycle of the second switch such that when the first switch is operated to allow the primary inductive element to discharge, current flows through the first secondary inductive element before current flows in the second secondary inductive element. A reset current signal controls current flow through the saturable reactor.