We see direct evidence that the majority of our clients, both commercial and consumer have built a liquidity surplus. Covered non-performing loans 1.8 times. Just the considerations. A full 82% of these credits have never been delinquent over the life of the loan. Michael Schumacher of Wells Fargo, Michael Purves of Tallbacken Capital Advisors and OceanFirst Financial's Chris Maher discuss the upcoming Federal Reserve rate decision, the outlook for the euro zone, and emerging markets in the wake of a leftist victory in Argentina's presidential election. Please note that our earnings release was accompanied by a set of supplemental slides that are available on the company's website. Our forecast for peak second forbearance of just under 9% of total loans, we certainly don't expect all of that to become non-accrual or TDR loans. We believe from balance sheet management, we should continue to do so. Within our forecast peak exposure, the restaurant and hospitality industry represents the largest component at approximately $200 million. And I'm going to clarify something to that. There are exceptions to that. So, we have not been slow to pull the trigger when we see patterns that makes sense to us. We remain confident in our quarterly expense run rate and will recognize savings from the branch consolidations completed in May, while spending wisely on digital account acquisition and continued employee and customer safety. This shift toured quantitative reserves when compared to the prior quarter, reflects a much weaker economic forecast issued on June - June 17 by Oxford Economics. Those are really helpful. So, let's just play that forward and forget about the percentage of loans that wind up being, say, non-accrual. So, I think that - I think that it's prudent just to recognize that there may be some fits and starts on the economy as well. So, if that's the case, is it fair to say the qualitative builds are mostly behind, and from here it's just really quantitative factors and credit migration, specific credit migration that's going to drive the provisioning going forward? We are actively managing headcount in the current environment. But as we went through even during the second quarter, we mentioned - it's kind of odd, we had only a single liquidation issue in our commercial base. Our $181 million capital raise provides additional support in this environment. How Mastercard aims to help banks win back customers’ trust, How One Community Bank Is Reinventing CX for the Digital Age, Jonathan Ferro highlights the market moving news you need to know heading into the opening bell on Wall Street. So the residential pools, I think the LTVs are fine and probably conservative or understated. I'm not sure if I'm - hit on your question or not. Given the environment we faced in the second quarter and the uncertainty regarding the pandemic and the economic recovery, we will do our best to convey our views on the operating environment, as well as the company's performance and risk position. So far residential real estate is holding or increasing in value and even CRE cash flows are remarkably steady. Chris, just to sort of segue from that last comment that you just made and it's kind of a big picture question. Please verify address for mailing or other purposes. And then another $24 million, that's more general and that - it's accretive in income over the life of the loan and that's - generally, most of that comes in over the next three years or four years.
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