# ASC 340-948-25: Other Assets and Deferred Costs — Financial Services—Mortgage Banking — 25 Recognition

Source: FASB Accounting Standards Codification, Basic View

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## ASC 340-948-25: 25 Recognition

[Read section](https://asc.understandingaccounting.org/asc/340/948/#25-recognition)

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#### Costs of Issuing Certain GNMA Securities

##### [340-948-25-1](https://asc.understandingaccounting.org/asc/340/948/#340-948-25-1)

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One month's interest cost, which is required to be paid to a trustee by issuers of [Government National Mortgage Association](https://asc.understandingaccounting.org/glossary/g/#government-national-mortgage-association "Often referred to as Ginnie Mae, GNMA is a U.S. governmental agency that guarantees certain types of mortgage-backed securities and provides funds for and administers certain types of low-income housing assistance programs.") (GNMA) securities electing the [internal reserve method](https://asc.understandingaccounting.org/glossary/i/#internal-reserve-method "A method for making payments to investors for collections of principal and interest on mortgage loans by issuers of Government National Mortgage Association (GNMA) securities. An issuer electing the internal reserve method is required to deposit in a custodial account an amount equal to one month's interest on the mortgage loans that collateralize the GNMA security issued."), shall be capitalized.