Before revision:  We calculate this measure of systemic network concentration on a few data sets reporting exposures of financial institutions and show that typically the effect of common exposures is not fully contained by information at the level of single portfolio concentration  .
After revision:  We calculate this measure of systemic network concentration on a few data sets reporting exposures of financial institutions and show that typically the effect of common exposures is not fully contained by information at the level of single portfolio concentration measures. It also allows to quantify several aspects of the interplay between interconnectedness and credit risk .