A slidable brake caliper system includes a retaining pin that is slip fit within a bore of a mounting bracket to slidably retain a caliper relative to the mounting bracket. A resilient cylindrical retaining support in combination with a resilient bushing and boot assembly support the retaining pin slidably within a bore of the mounting bracket. The caliper is clamped onto the retaining pin by a fastener assembly in a manner such that it is slidably retained relative to the mounting bracket to provide a clamping load to a pair of brake pad assemblies that are carried by the mounting bracket and are capable of applying a selective frictional force a rotating element. The caliper suspension system which includes the retaining pin provides a means for pivotably opening the caliper relative to the mounting bracket to replace the pads without complete removal of the retaining pins.