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Blackrock New York Municipal Income Quality Trust – ‘N-Q’ for 5/31/08

On:  Wednesday, 7/30/08, at 10:12am ET   ·   Effective:  7/30/08   ·   For:  5/31/08   ·   Accession #:  930413-8-4553   ·   File #:  811-21179

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/30/08  Blackrock NY Muni Income Qual… Tr N-Q         5/31/08    2:103K                                   Command Financial

Quarterly Schedule of Portfolio Holdings of a Management Investment Company   —   Form N-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-Q         Quarterly Schedule of Portfolio Holdings of a       HTML     78K 
                          Management Investment Company                          
 2: EX-99.CERT  Miscellaneous Exhibit                               HTML     17K 


N-Q   —   Quarterly Schedule of Portfolio Holdings of a Management Investment Company

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21179

Name of Fund: BlackRock New York Insured Municipal Income Trust (BSE)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock New York Insured Municipal Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2008

Date of reporting period: 03/01/2008 – 05/31/2008


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Item 1 – Schedule of Investments

BlackRock New York Insured Municipal Income Trust          
Schedule of Investments May 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
  Municipal Bonds   (000)     Value
New York - 134.0%                  Herkimer County, New York, IDA, Civic Facility Revenue Bonds        
  (Herkimer College Foundation Inc.), 6.25%, 8/01/34 $            1,000            
$
           1,008,220
  Hudson Yards Infrastructure Corporation, New York, Revenue Bonds,        
  Series A, 5%, 2/15/47 (a)   3,000     2,931,000
  Long Island Power Authority, New York, Electric System Revenue        
  Refunding Bonds, Series F, 4.25%, 5/01/33 (b)   1,415     1,310,290
  Metropolitan Transportation Authority, New York, Dedicated Tax Fund,        
  Revenue Refunding Bonds, VRDN, Series B, 1.35%, 11/01/22 (c)(d) 13,950     13,950,000
  Metropolitan Transportation Authority, New York, Revenue Refunding        
  Bonds, Series A, 5.25%, 11/15/31 (a)   4,250     4,295,259
  Metropolitan Transportation Authority, New York, Revenue Refunding        
  Bonds, Series E, 5.25%, 11/15/31 (a)   2,660     2,691,521
  Metropolitan Transportation Authority, New York, Service Contract        
  Revenue Refunding Bonds, Series A, 5%, 7/01/30 (e)   10,000     10,173,100
  Nassau County, New York, Interim Financing Authority, Sales Tax        
  Secured Revenue Refunding Bonds, VRDN, Series A, 1.50%,        
  11/15/22 (c)(d)   475     475,000
  New York City, New York, City IDA, PILOT Revenue Bonds (Queens        
  Baseball Stadium Project), 5%, 1/01/46 (e)   3,725     3,718,556
  New York City, New York, City IDA, PILOT Revenue Bonds (Yankee        
  Stadium Project), 4.75%, 3/01/46 (b)   1,000     975,750
  New York City, New York, City IDA, PILOT Revenue Bonds (Yankee        
  Stadium Project), 5%, 3/01/46 (a)   650     618,157
  New York City, New York, City Municipal Water Finance Authority,        
  Second General Resolution, Water and Sewer System, Revenue        
  Refunding Bonds, Series A, 4.75%, 6/15/37 (c)   1,385     1,394,169
  New York City, New York, City Municipal Water Finance Authority,        
  Second General Resolution, Water and Sewer System, Revenue        
  Refunding Bonds, Series DD, 4.75%, 6/15/36 (c)   2,035     2,051,341
  New York City, New York, City Municipal Water Finance Authority,        
  Water and Sewer System Revenue Bonds, Series A, 4.25%, 6/15/39 (c) 1,500     1,396,560
Portfolio Abbreviations          
To simplify the listings of BlackRock New York Insured Municipal Income Trust's portfolio holdings in the Schedule of
Investments, we have abbreviated the names of many of the securities according to the list below.        

            GO                         General Obligation Bonds
  IDA   Industrial Development Authority
  PILOT   Payment in Lieu of Taxes
  TFABS   Tobacco Flexible Amortization Bonds
  VRDN   Variable Rate Demand Notes

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BlackRock New York Insured Municipal Income Trust          
Schedule of Investments May 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
  Municipal Bonds   (000)     Value
                                             New York City, New York, City Transitional Finance Authority, Future          
  Tax Secured, Revenue Refunding Bonds, Series B, 5%, 11/01/11 (e)(f)
$
           235            
$
255,027
  New York City, New York, City Transitional Finance Authority, Future          
  Tax Secured, Revenue Refunding Bonds, Series B, 5%, 5/01/30 (e)   5,765                5,867,618
  New York City, New York, IDA, Civic Facility Revenue Bonds (Lycee          
  Francais de New York Project), Series A, 5.375%, 6/01/23 (g)   2,500     2,380,075
  New York City, New York, Sales Tax Asset Receivable Corporation          
  Revenue Bonds, Series A, 5%, 10/15/32 (e)   6,000     6,174,420
  New York City, New York, Trust for Cultural Resources Revenue          
  Refunding Bonds (American Museum of Natural History), Series A, 5%,          
  7/01/44 (b)   4,100     4,166,461
  New York Convention Center Development Corporation, New York,          
  Revenue Bonds (Hotel Unit Fee Secured), 5%, 11/15/44 (e)   7,175     7,188,561
  New York State Dormitory Authority, Hospital Revenue Bonds (Lutheran          
  Medical Center), 5%, 8/01/31 (b)(h)   7,000     7,060,410
  New York State Dormitory Authority, Hospital Revenue Refunding Bonds          
  (New York and Presbyterian Hospital), 5%, 8/01/32 (e)(h)   5,000     5,009,150
  New York State Dormitory Authority, Lease Revenue Bonds (State          
  University Dormitory Facilities), 5%, 7/01/37 (e)   500     513,950
  New York State Dormitory Authority, Mental Health Services Revenue          
  Bonds, VRDN, Sub-Series D-2A, 1.63%, 2/15/31 (b)(d)   700     700,000
  New York State Dormitory Authority, Mortgage Hospital Revenue Bonds          
  (Saint Barnabas Hospital), Series A, 5%, 2/01/31 (e)(h)   6,000     6,026,460
  New York State Dormitory Authority, Non-State Supported Debt,          
  Revenue Refunding Bonds (Mount Sinai School of Medicine of New York          
  University), 5%, 7/01/35 (b)   2,500     2,534,525
  New York State Dormitory Authority Revenue Bonds (Brooklyn Law          
  School), Series B, 5.125%, 7/01/30 (i)   5,000     5,026,400
  New York State Dormitory Authority Revenue Bonds (Fashion Institute of          
  Technology Student Housing Corporation), 5.125%, 7/01/14 (a)(f)   2,500     2,743,850
  New York State Dormitory Authority Revenue Bonds (New York          
  University), Series 2, 5%, 7/01/41 (e)   7,000     7,065,380
  New York State Dormitory Authority Revenue Bonds (SS Joachim and          
  Anne Residence), 5.25%, 7/01/27   3,000     3,039,420
  New York State Dormitory Authority Revenue Bonds (School Districts          
  Financing Program), Series D, 5%, 10/01/30 (b)   3,500     3,532,340
  New York State Dormitory Authority, Revenue Refunding Bonds (School          
  District Financing Program), Series A, 5%, 4/01/31 (b)   2,000     2,016,920
  New York State Dormitory Authority, Revenue Refunding Bonds          
  (Winthrop S. Nassau University), Series A, 5.25%, 7/01/31 (e)   2,000     2,037,400
  New York State, GO, Series A, 4.125%, 3/01/37 (a)   320     286,486
  New York State Local Government Assistance Corporation, Revenue          
  Refunding Bonds, Sub-Lien, VRDN, Series 4V, 1.50%, 4/01/22 (c)(d)   500     500,000
  TSASC, Inc., New York, TFABS, Series 1, 5.75%, 7/15/12 (f)   2,500     2,770,725
            123,884,501

2


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BlackRock New York Insured Municipal Income Trust            
Schedule of Investments May 31, 2008 (Unaudited) (Percentages shown are based on Net Assets)
        Par      
  Municipal Bonds     (000)     Value
Puerto Rico - 15.1%                  Puerto Rico Commonwealth Aqueduct and Sewer Authority, Senior Lien            
  Revenue Bonds, Series A, 5.125%, 7/01/47 (j)  
$
           1,925            
$
           1,972,779
  Puerto Rico Commonwealth Highway and Transportation Authority,            
  Highway Revenue Refunding Bonds, Series CC, 5.50%, 7/01/31 (c)     1,000     1,116,460
  Puerto Rico Commonwealth Highway and Transportation Authority,            
  Highway Revenue Refunding Bonds, Series CC, 5.25%, 7/01/34 (c)     1,000     1,083,730
  Puerto Rico Commonwealth Highway and Transportation Authority,            
  Highway Revenue Refunding Bonds, Series CC, 5.25%, 7/01/36 (c)     1,000     1,085,240
  Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds,            
  Series SS, 5%, 7/01/25 (b)     1,000     1,020,880
  Puerto Rico Industrial, Tourist, Educational, Medical and Environmental            
  Control Facilities Revenue Bonds (University Plaza Project), Series A,            
  5%, 7/01/33 (b)     1,000     1,005,460
  Puerto Rico Industrial, Tourist, Educational, Medical and Environmental            
  Control Facilities, Revenue Refunding Bonds (Polytechnic University),            
  Series A, 5%, 8/01/32 (g)     4,000     3,562,720
  Puerto Rico Municipal Finance Agency, GO, Series A, 5%, 8/01/30 (c)     1,000     1,020,460
  Puerto Rico Municipal Finance Agency Revenue Bonds, Series A, 5.25%,            
  8/01/20 (c)     2,000     2,113,900
              13,981,629
  Total Municipal Bonds            
  (Cost - $137,340,573) - 149.1%           137,866,130
  Municipal Bonds Transferred to Tender Option Bond Trusts (k)            
  Triborough Bridge and Tunnel Authority, New York, Revenue Refunding            
  Bonds, 5%, 11/15/2032 (b)     9,400     9,485,447
  Long Island Power Authority, New York, Revenue Refunding Bonds,            
  Series B, 5%, 12/01/35 (c)     1,000     1,032,416
  Metropolitan Transportation Authority, New York, Revenue Refunding            
  Bonds, Series A, 5%, 11/15/30 (c)     6,095     6,205,933
  New York City, New York, City Transitional Finance Authority, Building            
  Aid Revenue Bonds, Series S-2, 5%, 1/15/37 (a)(c)     1,000     1,033,300
  New York State Thruway Authority, General Revenue Refunding Bonds,            
  Series H, 5%, 1/01/37 (a)(c)     4,000     4,127,913
  Total Municipal Bonds Transferred to Tender Option Bond Trusts            
  (Cost - $21,621,121) - 23.7%           21,885,009
  Short-Term Securities     Shares      
  CMA New York Municipal Money Fund, 1.17% (l)(m)     299     299
  Total Short-Term Securities            
  (Cost - $299) - 0.0%           299
  Total Investments (Cost - $158,961,993*) - 172.8%           159,751,438
  Other Assets Less Liabilities - 3.3%           3,086,728
  Liability for Trust Certificates, Including Interest Expense and            
  Fees Payable - (15.5%)           (14,344,796)
  Preferred Shares, at Redemption Value - (60.6%)       (56,039,234)
  Net Assets Applicable to Common Shares - 100.0%    
$
92,454,136

3


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BlackRock New York Insured Municipal Income Trust
Schedule of Investments May 31, 2008 (Unaudited)
   
*         

The cost and unrealized appreciation (depreciation) of investments as of May 31, 2008, as computed for federal income tax purposes, were as follows:

 
Aggregate cost   $ 144,867,205  
Gross unrealized appreciation   $ 1,670,487  
Gross unrealized depreciation                (1,120,836
)
Net unrealized appreciation   $ 549,651  

(a)      

FGIC Insured.

 
(b)      

MBIA Insured.

 
(c)      

FSA Insured.

 
(d)      

Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.

 
(e)      

AMBAC Insured.

 
(f)      

U.S. government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.

 
(g)      

ACA Insured.

 
(h)      

FHA Insured.

 
(i)      

XL Capital Insured.

 
(j)      

Assured Guaranty Insured.

 
(k)      

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as a collateral in a financing transaction.

 
(l)      

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:

 
 
 
    Net              
Dividend
Affiliate   Activity     Income
CMA New York Municipal Money Fund   8   $                   5

(m)     Represents the current yield as of report date.

  •       Forward interest rate swaps outstanding as of May 31, 2008 were as follows:

 
      Notional    
      Amount   Unrealized
      (000)            
Depreciation
Pay a fixed rate of 3.984% and receive a floating rate based on          
1-week Securities Industry and Financial Markets Association          
(SIFMA) Municipal Swap Index rate          
Broker, JPMorgan Chase          
Expires June 2028   $ 3,000   $    (74,190)

4


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Item 2 –   Controls and Procedures
       
2(a) –   The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
 
2(b) –   There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a- 3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
       
Item 3 –   Exhibits
 
    Certifications – Attached hereto
 
    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
    BlackRock New York Insured Municipal Income Trust
 
    By: 
      Donald C. Burke
      Chief Executive Officer of
      BlackRock New York Insured Municipal Income Trust
 
    Date: July 18, 2008
 
    Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
    By: 
      Donald C. Burke
      Chief Executive Officer (principal executive officer) of
      BlackRock New York Insured Municipal Income Trust
 
      Date: July 18, 2008
 
    By:
      Neal J. Andrews
      Chief Financial Officer (principal financial officer) of
      BlackRock New York Insured Municipal Income Trust
 
    Date: July 18, 2008



Dates Referenced Herein

Referenced-On Page
This ‘N-Q’ Filing    Date First  Last      Other Filings
Filed on / Effective on:7/30/08None on these Dates
7/18/086
For Period End:5/31/0825
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