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The effective permissions for an entity are the permissions that are granted by all the policies that affect the user or role. Within an account, the permissions for an entity can be affected by identity-based policies, resource-based policies, permissions boundaries, Organizations SCPs, or session policies. If any one of these policy types explicitly denies access for an operation, then the request is denied.
See https://docs.aws.amazon.com/IAM/latest/UserGuide/access_policies_boundaries.html