Estimated loss due to “subprime” crisis has reached an incredible range between $150 billion and $2 trillion. The scope of estimates shows there is not even rough consent regarding the effects of the financial crisis that swept over the most developed financial markets in 2007. Now, a year after its outbreak, it is clear that the crisis mostly affects banks that used to rely on securitisation for savings on engaged capital. Standard financial lever is again in the focus of attention: it is foreseeable that the crisis will least affect the operations of international banks which currently have relatively high equity to assets ratio. Among them are banks operating in Croatia. The questions have also been raised about what the regulators could have done to prevent or mitigate the crisis and what they can do now to overcome it as soon as possible and prevent it from repeating in the current form.