▁the ▁Aust rian ▁Ra iffe isen ▁co oper atives ▁was ▁held ▁on ▁ 1 6 ▁August ▁ 1 9 2 7 . ▁With ▁this , ▁a ▁central ▁institution ▁was ▁established ▁for ▁the ▁Ra iffe isen ▁Bank ing ▁Group , ▁and ▁since ▁then ▁this ▁institution ▁has ▁function ed ▁as ▁the ▁national ▁and ▁international ▁representative ▁and ▁coordin ator ▁for ▁the ▁Group . ▁The ▁found ing ▁took ▁place ▁roughly ▁four ▁dec ades ▁after ▁the ▁establishment ▁of ▁the ▁first ▁Aust rian ▁sav ings ▁and ▁loan ▁co oper ative ▁to ▁use ▁the ▁system ▁de vised ▁by ▁Friedrich ▁Wilhelm ▁Ra iffe isen . ▁ ▁The ▁original ▁company ▁name ▁was ▁G iro zent rale ▁der ▁österreich ischen ▁Gen oss enschaft en . ▁In ▁ 1 9 3 9 , ▁after ▁the ▁German ▁an nex ation ▁of ▁Austria , ▁the ▁new ▁German ▁own ers ▁changed ▁the ▁name ▁to ▁Gen oss enschaft liche ▁Zent ral bank ▁der ▁Ost mark ▁Akt ien gesellschaft , ▁and ▁then ▁in ▁ 1 9 4 2 ▁to ▁Gen oss enschaft liche ▁Zent ral bank ▁Wien ▁Akt ien gesellschaft . ▁From ▁ 1 9 5 3 ▁on , ▁the ▁new ▁name ▁was ▁Gen oss enschaft liche ▁Zent ral bank ▁Akt ien gesellschaft , ▁with ▁the ▁abbre viation ▁G Z B ▁also ▁being ▁used ▁for ▁the ▁company . ▁Since ▁ 1 9 8 9 , ▁the ▁bank ▁has ▁been ▁named ▁Ra iffe isen ▁Zent ral bank ▁Österreich ▁Akt ien gesellschaft , ▁abbre vi ated ▁as ▁R Z B . ▁ ▁F ounded ▁primarily ▁as ▁a ▁liquid ity ▁equal isation