The Communiqué, which capped fees chargeable by Turkish banks for four main categories of services and products (i.e. commercial loans, foreign trade, cash management and payment systems) initially sparked a lot of concern amongst Turkish banks. In an effort to shed light on the grey areas in the Communiqué, the Central Bank introduced a number of important exceptions with the Guideline which attempt to ensure a level playing field in transactions that involve a foreign element, including cross-border syndicated loans and intrabank transactions, and clarified the implementation of oversight and disclosure mechanisms set out in the Communiqué.