Matt O’Connor — Deutsche Bank — Analyst
Operator
Your question that is next is Jennifer Demba of SunTrust.
John M. Turner — President and Chief Executive Officer
Good early early morning, Jennifer.
Jennifer Demba — SunTrust — Analyst
Good morning. You pointed out power and restaurant financing being especially stressed. What type of loss content would you are thought by you can see in those two buckets considering a variety of likelihood of financial data recovery?
John M. Turner — President and Ceo
Barb, if you would like just just simply take that concern?
Barbara Godin — Chief Credit Officer
Yes. Good early morning, Jennifer. We know that’s right now that there is acute demand dislocation as we look at the energy buckets as an example. Nonetheless, having said that you might also need OPEC which arrived on the scene and paid off the supply by 9.7 million barrels. And after that you combine that with the opening associated with the economy, which we are hoping may help, should take place quickly, and that is planning to assistance with need in accordance with some stabilization in rates. I would additionally point out with all the publications there are, the reality that greater part of it really is now midstream and primary E&P into the senior guaranteed position, no 2nd lien positions, etc, that you are feeling very good about this guide. We really stressed at, Jennifer, right down to $24 a barrel. We additionally understand we are in a contango market, therefore we do anticipate greater future costs too. But we additionally understand that crude storage space is a problem.
therefore we’ve got our eyes on power. We are handling once again on a day-to-day foundation. Are we likely to see more energy losses? Most likely, but two to four of our E&P guide, we have just taken $5 million of losings for E&P. Usually the one that individuals have actually this quarter, we saw the loss figures. It absolutely was roughly $21 million loss to an E&P client compared to that grouping, however it ended up being a Master Limited Partnership, therefore maybe maybe not truly E&P per se, and I also will say, a Shared National Credit too. We know they all increase so we do see some of our non-performing loans go — are going to increase and criticized and classified are going to increase, but in terms of surge-off, well. We think, they shall be well in check.
I’d like to speak with you for an additional on restaurants. Restaurants Indecipherable but mainly for restaurant, it will be a number of the Quickserve and fast casual, etc. that which we understand is our Quickserve is down 20% to 30per cent, fast casual simply down 30% to 40% at this time. It really is 3% of y our restaurant outstandings are typical guaranteed. And we also realize that the entire solution restaurants at this time are that great impact that is greatest. Therefore once again, saying that people understand that there is likely to be even more losings taken from restaurants and once more, we believe that they are going to be pretty much managed provided the only our company is.
John M. Turner — President and Ceo
Operator
Your question that is next comes Peter Winter of Wedbush.
John M. Turner — President and Ceo
Good early early early morning, Peter.
Peter Winter — Wedbush Securities — Analyst
Good early morning. Are you able to simply explore a few of your payday loans TN financial presumptions, what you are presuming and I also’m simply inquisitive, it off, because we’ve just seen the recent economic work have gotten a little bit worse if you cut?
David J. Turner — Senior Executive Vice President, Chief Financial Officer
Yes. Therefore Peter, because of the significant economic volatility linked with COVID-19, we really went a few financial situations to find out our allowance for credit losings. We additionally utilize third-party evaluations in specific, Moody’s March 27 contrast. Our models really were not designed for this kind of modification, therefore we knew we were likely to must have some overlays in addition to have it as to what we thought had been a suitable, allowance for credit losings. There has been lot of conversation when it comes to everything we consider the data recovery, and exactly exactly just what form it really is? And extremely we think a much better concern will be perhaps maybe perhaps not the form associated with bend, but at just just what speed does it actually retrieve to pre-recession amounts and now we’ll call it pre-recession take the quarter that is fourth. Therefore, we now have pretty serious variety of GDP, approaching that 20% into the quarter that is second jobless, approaching the 10%.
And we do expect it recover while it does. We anticipate that it is likely to be really sluggish. In the event that you get back to the economic crisis, it took about 14 quarters before we got in to pre-recession GDP. Our expectation could it be’s likely to be somewhere within 10 and 12 quarters before we have right straight straight straight back here. Therefore, phone it the part that is later of. Therefore, we don’t think the snaps straight back. We think it is extended. We improve from the quarter that is second right? Therefore, you begin in the future up. However you’re simply not planning to show up during the speed that you simply transpired. In order that it can not vis-a-vis. It will be, I do not understand exactly just exactly what the expression is, but call the checkmark much more. While the slope of this is the data data recovery once again, getting back into GDP within the 4th quarter of ’22.
Thank you for reading!
