Process for producing transparent microcapsules, comprising the sequence of the following process steps: a) preparing a solution of i) 0.1 to 1.0 wt% of ammonium chloride and/or alkali metal chloride, ii) not more than 0.7 wt% of an aromatic alcohol selected from the dihydroxy- and/or trihydroxybenzenes, iii) 0.1 to 3.5 wt% of an amine or amide component selected from an amine or amide having at least two amino groups and iv) 0.3 to 2.0 wt% of a protective colloid which is soluble in water and stabilizes the oil-in-water emulsion, the total concentration of the above non-aqueous constituents being 1.5 to 7.2 wt%, based in each case on the total weight of the solution, b) adding 0.02 to 0.13 wt% of an emulsifier combination comprising an anionic and a nonionic emulsifier in a ratio of 1:3 to 3:1, c) adjusting the pH of the resulting solution to a value in the 2.5 to 6 range, d) adding 9 to 42 wt% of at least one hydrophobic material, based on the total weight of the preparation, the hydrophobic material used comprising air-drying alkyd resins and/or oils, e) adding from 0.5 to 13.0 wt% of an aldehyde component selected from formaldehyde, glutaraldehyde and/or glyoxal, based in each case on the total weight of the preparation, f) heating the resultant mixture at 40 to 70° C for 1 to 5 hours with mixing, the conditions of mixing being selected such that first of all an emulsion is formed whose droplets have a number-average droplet size of 15 to 350 μm, g) recovering the microcapsules. a) preparing a solution of i) 0.1 to 1.0 wt% of ammonium chloride and/or alkali metal chloride, ii) not more than 0.7 wt% of an aromatic alcohol selected from the dihydroxy- and/or trihydroxybenzenes, iii) 0.1 to 3.5 wt% of an amine or amide component selected from an amine or amide having at least two amino groups and iv) 0.3 to 2.0 wt% of a protective colloid which is soluble in water and stabilizes the oil-in-water emulsion, the total concentration of the above non-aqueous constituents being 1.5 to 7.2 wt%, based in each case on the total weight of the solution, i) 0.1 to 1.0 wt% of ammonium chloride and/or alkali metal chloride, ii) not more than 0.7 wt% of an aromatic alcohol selected from the dihydroxy- and/or trihydroxybenzenes, iii) 0.1 to 3.5 wt% of an amine or amide component selected from an amine or amide having at least two amino groups and iv) 0.3 to 2.0 wt% of a protective colloid which is soluble in water and stabilizes the oil-in-water emulsion, b) adding 0.02 to 0.13 wt% of an emulsifier combination comprising an anionic and a nonionic emulsifier in a ratio of 1:3 to 3:1, c) adjusting the pH of the resulting solution to a value in the 2.5 to 6 range, d) adding 9 to 42 wt% of at least one hydrophobic material, based on the total weight of the preparation, the hydrophobic material used comprising air-drying alkyd resins and/or oils, e) adding from 0.5 to 13.0 wt% of an aldehyde component selected from formaldehyde, glutaraldehyde and/or glyoxal, based in each case on the total weight of the preparation, f) heating the resultant mixture at 40 to 70° C for 1 to 5 hours with mixing, the conditions of mixing being selected such that first of all an emulsion is formed whose droplets have a number-average droplet size of 15 to 350 μm, g) recovering the microcapsules.