The purpose of this article is to address basic issues of regulation of credit derivatives in the legal system of the Russian Federation. With the help of the analysis of norms of the domestic legislation it is necessary to define the vector of development of credit derivatives institutions by the Russian regulator, efficiency of their application and problems of application of civil-law forms of these instruments. In this paper we use methods of analysis, synthesis and legal norms, as well as specification of aspects of law enforcement practice of domestic and foreign regulators in the relevant area. As a result of consideration of the present topic, it is possible to note undeveloped character of regulation of both derivatives in general and credit instruments in particular. This aspect is reflected in the problems of legal qualification of such institutions by Russian courts, as well as in gaps in the legislation of the Russian Federation.