Which of the following are correct? I. A countercyclical buffer is a macroprudential policy tool requiring banks to hold more capital during economic recessions when they are more likely to incur loan losses. II. Banks may be able to raise more Common Equity Tier 1 capital ratios by lowering their conservation and countercyclical capital buffers. III. Countercyclical buffers are primarily used as macroprudential policy tools whereas conservation buffers are used as microprudential policy tools. O III is correct. Oil is correct. OI and II are correct. O II and III are correct. Olis correct