  This paper derives -- considering a Gaussian setting -- closed form solutions
of the statistics that Adrian and Brunnermeier and Acharya et al. have
suggested as measures of systemic risk to be attached to individual banks. The
statistics equal the product of statistic specific Beta-coefficients with the
mean corrected Value at Risk. Hence, the measures of systemic risks are closely
related to well known concepts of financial economics. Another benefit of the
analysis is that it is revealed how the concepts are related to each other.
Also, it may be relatively easy to convince the regulators to consider a closed
form solution, especially so if the statistics involved are well known and can
easily be communicated to the financial community.
