Today's announcement, however, eliminates a stable and diversifying source of earnings. Although its wealth and asset management businesses have contributed increased earnings, they are not enough to dampen volatility from its Institutional Securities division, said Fitch. The rating agency also said it believes Morgan Stanley's market and credit risk appetites will expand in certain industries and that overall, it might reach beyond levels expected for firms in its 'AA' credit ratings range. Aside from the Discover Bank spin off, Morgan Stanley said it would also cut its securities business and do a $6 billion share repurchase program over the next 12 to 18 months.