The British Crown dependencies of Guernsey, Jersey and the Isle of Man produce their own local issues of sterling (the Guernsey pound, the Jersey pound and the Manx pound) which are considered fully equivalent to UK sterling in their respective regions. The pound sterling is also used in the British Overseas Territories Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound), and in Saint Helena, Ascension and Tristan da Cunha (alongside the Saint Helena pound) (others having transitioned to dollar currencies, such as Bermuda in 1970). The Bank of England is the central bank for the pound sterling, issuing its own banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling banknotes issued by other jurisdictions are not regulated by the Bank of England; their governments guarantee convertibility at par.