( 4 ) cds adjustment represents credit protection purchased from european peripherals 2019 banks on european peripherals 2019 sovereign and financial institution risk .based on the cds notional amount assuming zero recovery adjusted for any fair value receivable or payable .( 5 ) represents cds hedges ( purchased and sold ) on net counterparty exposure and funded lending executed by trading desks responsible for hedging counterparty and lending credit risk exposures for the company .based on the cds notional amount assuming zero recovery adjusted for any fair value receivable or payable .( 6 ) in addition , at december 31 , 2013 , the company had european peripherals exposure for overnight deposits with banks of approximately $ 111 million .industry exposure 2014otc derivative products .the company also monitors its credit exposure to individual industries for current exposure arising from the company 2019s otc derivative contracts .the following table shows the company 2019s otc derivative products by industry at december 31 , 2013 : industry otc derivative products ( 1 ) ( dollars in millions ) .
[['industry', 'otc derivative products ( 1 ) ( dollars in millions )'], ['utilities', '$ 3142'], ['banks and securities firms', '2358'], ['funds exchanges and other financial services ( 2 )', '2433'], ['special purpose vehicles', '1908'], ['regional governments', '1597'], ['healthcare', '1089'], ['industrials', '914'], ['sovereign governments', '816'], ['not-for-profit organizations', '672'], ['insurance', '538'], ['real estate', '503'], ['consumer staples', '487'], ['other', '1157'], ['total', '$ 17614']]
( 1 ) for further information on derivative instruments and hedging activities , see note 12 to the consolidated financial statements in item 8 .( 2 ) includes mutual funds , pension funds , private equity and real estate funds , exchanges and clearinghouses and diversified financial services .operational risk .operational risk refers to the risk of loss , or of damage to the company 2019s reputation , resulting from inadequate or failed processes , people and systems or from external events ( e.g. , fraud , legal and compliance risks or damage to physical assets ) .the company may incur operational risk across the full scope of its business activities , including revenue-generating activities ( e.g. , sales and trading ) and control groups ( e.g. , information technology and trade processing ) .legal , regulatory and compliance risk is included in the scope of operational risk and is discussed below under 201clegal , regulatory and compliance risk . 201d the company has established an operational risk framework to identify , measure , monitor and control risk across the company .effective operational risk management is essential to reducing the impact of operational risk incidents and mitigating legal , regulatory and reputational risks .the framework is continually evolving to account for changes in the company and respond to the changing regulatory and business environment .the company has implemented operational risk data and assessment systems to monitor and analyze internal and external operational risk events , business environment and internal control factors and to perform scenario analysis .the collected data elements are incorporated in the operational risk capital model .the model encompasses both quantitative and qualitative elements .internal loss data and scenario analysis results are direct inputs to the capital model , while external operational incidents , business environment internal control factors and metrics are indirect inputs to the model. .

Question: did the company have more exposure to the insurance industry than the real estate industry in its derivative portfolio?
Answer: yes