From the WSJ;
"Banks ought to be able to hedge their own risks," Mr. Frank said. He said banks would be prohibited from overly risky derivatives activities by the Volcker Rule and that the separate provision wouldn't be necessary.
"I don't see the need for a separate rule regarding derivatives because the restriction on banks engaging in proprietary activities would apply to derivatives as well as everything else," Mr. Frank said.
He said banks would be able to do derivatives under the rules established by the bill "for their own commercial risk or their customers, but they will not be able to run separate profit centers where they trade them."
Mr. Frank's comments were delivered in a speech at the Mayflower Hotel in Washington, D.C.