WASHINGTON — One definite impact that the Volcker Rule will have on the derivatives industry is in the commodities area, Federal Reserve Board governor David Tarullo said Thursday, though he stressed the amount of derivatives banks currently hold that will have to be “pushed out” is “relatively small.”

During a hearing before the Senate Banking Committee, Tarullo was asked if the controversial Volcker Rule and its ban on proprietary trading would have any impact on currently high gasoline prices.

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