ECB's Trichet: market should not overestimate risks

LONDON, Oct 8 (Reuters) - European Central Bank President Jean-Claude Trichet said market participants should not overestimate risks.

"We are there to be up to our responsibility, we call all authorities or institutions -- whether private or public -- to be up to their responsibilities, and we expect the market participants ... to be themselves up to their responsibilities," he told CNBC television.

"They had clearly underestimated risks in the past, before the turbulences started. I would not like them, with the pendulum going totallly in the other direction, to overestimate risks in general." (Reporting by Swaha Pattanaik and Adrian Wright)