Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 15 - Operations of Associations
Section 20 CSR 1140-15.011 - Accounting for Deferred Losses and Gains on the Sale or Other Disposition of Mortgage Loans, Mortgage-Related Securities and Certain Debt Securities

(1) Associations, to the extent permitted by federal laws and regulations, may elect to defer and amortize all gains and losses on any sale or other disposition of the following: mortgage loans; redeemable ground-rent leases; mortgage-related securities; preferred stock that, at the time of issuance of that preferred stock, provides for redemption on a fixed date in a fixed dollar amount or for redemption pursuant to a fixed schedule of periodic payments and has a remaining term to maturity of at least five (5) years; and debt securities that do not qualify as liquid assets because of their maturities or that have remaining terms to maturity of at least five (5) years.

(2) The gains and losses referred to in section (1) shall be net of related income taxes computed in accordance with generally accepted accounting principles and shall not include any gains or losses related to the disposition of scheduled items, including loans to facilitate sales of foreclosed property.

(3) This regulation shall be considered a blanket concurrence for state law purposes for the use of this accounting treatment.