When the international banking regulators defined risk in their 1994 report, what definition of risk did they

Question:

When the international banking regulators defined risk in their 1994 report, what definition of risk did they have in mind? How does this compare with the definition of risk from modern theory?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...