  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.
