minio: bucket level policy vs identity level policy

Question

I am novice in Minio so my question is very basic but I really can't find direct answer for that.

In minio console I've found 2 places where I can setup policy

1. On bucket level:
2. On identity level:

I've understood here that I can create a policy and assign it to the user.

So my question is:

What is the difference between those policies assigned on different levels ? Do they have special names ? Is there any Minio documentation about both of those places ?

P.S.

I've found 2 pages in Minio documentation but I wasn't able to find an answer:

1. https://min.io/docs/minio/linux/administration/identity-access-management/policy-based-access-control.html
2. https://min.io/docs/minio/linux/administration/identity-access-management.html