In modern day architectural terms, Frieze is often refered to as Fascia. A Fascia board is a wide, flat horizontal piece of timber, used to cap the end of rafters. Secured to the rafters at roof level, where they meet the edge of a building, it provides the rafters and roof cavity protection from the elements. Can also be used to hold a gutter for collecting rain water or as a relief for fretwork.

Wiki:

• In classical architecture, the fascia is the plain, wide band across the bottom of the entablature, directly above the columns.
• An entablature refers to the superstructure of mouldings and bands which lie horizontally above columns, resting on their capitals.