We discuss the formation and evolution of binaries which contain neutron stars or black holes .
It is shown that in a stellar system which for 10 ^ { 10 } yr had star formation rate similar to the current one in the Galactic disc , the rate of neutron star mergers is \sim 2 \times 10 ^ { -5 } yr ^ { -1 } , consistent with the observational estimates .
The rate of black hole and neutron star mergers is by an order of magnitude lower .
The pairs of black holes form but do not merge because heavy mass loss by their progenitors efficiently moves the binary components apart .