Pending approval from the Securities and Exchange Commission, First Union National Bank is looking to boost its penetration into the auto loan sector via a rent-a-shelf structure, which would allow the bank to sign on smaller auto loan originators for one-time or occasional access to the capital markets, sources said.

According to the trust filing, called Pooled Auto Securities Shelf, the deals will be structured in four parts: class A-1, A-2 and A-3 notes, plus B-class certificates.

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