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Blackrock New York Municipal Income Quality Trust – ‘N-Q’ for 11/30/07

On:  Tuesday, 1/29/08, at 10:48am ET   ·   Effective:  1/29/08   ·   For:  11/30/07   ·   Accession #:  930413-8-617   ·   File #:  811-21179

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

 1/29/08  Blackrock NY Muni Income Qual..Tr N-Q        11/30/07    2:76K                                    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     63K 
                          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: 09/01/2007 – 11/30/2007


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Item 1 – Schedule of Investments

BlackRock New York Insured Municipal Income Trust    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
    Face        
    Amount   Municipal Bonds  
Value
New York - 153.2%                 $ 1,000     Herkimer County, New York, IDA, Civic Facility Revenue Bonds (Herkimer College Foundation Inc.),    
        6.25% due 8/01/2034 $    1,036
    325   Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series A, 4.50% due 2/15/2047 (i)   311
    3,000   Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series A, 5% due 2/15/2047 (e)   3,075
    1,000   Long Island Power Authority, New York, Electric System Revenue Refunding Bonds, Series B, 5% due 12/01/2035 (g)   1,041
    3,550   Long Island Power Authority, New York, Electric System Revenue Refunding Bonds, Series F, 4.25% due 5/01/2033 (i)   3,337
    100   Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue Bonds, VRDN, Series D-1,    
        3.57% due 11/01/2034 (b)(m)   100
    1,800   Metropolitan Transportation Authority, New York, Dedicated Tax Fund, Revenue Refunding Bonds, VRDN, Series B,    
        3.54% due 11/01/2022 (g)(m)   1,800
    1,085   Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A, 5% due 11/15/2025 (e)   1,127
    7,345   Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A, 5% due 11/15/2030 (g)   7,552
    5,000   Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A, 5.25% due 11/15/2031 (e)   5,260
    2,660   Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series E, 5.25% due 11/15/2031 (e)   2,806
    10,000   Metropolitan Transportation Authority, New York, Service Contract Revenue Refunding Bonds, Series A,    
        5% due 7/01/2030 (b)   10,284
    1,000   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project), 5% due 1/01/2039 (b)   1,032
    3,825   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project), 5% due 1/01/2046 (b)   3,920
    500   New York City, New York, City IDA, PILOT Revenue Bonds (Yankee Stadium Project), 5% due 3/01/2036 (i)   518
    650   New York City, New York, City IDA, PILOT Revenue Bonds (Yankee Stadium Project), 5% due 3/01/2046 (e)   666
    1,385   New York City, New York, City Municipal Water Finance Authority, Second General Resolution, Water and Sewer    
        System, Revenue Refunding Bonds, Series A, 4.75% due 6/15/2037 (g)   1,400
    2,035   New York City, New York, City Municipal Water Finance Authority, Second General Resolution, Water and Sewer    
        System, Revenue Refunding Bonds, Series DD, 4.75% due 6/15/2036 (g)   2,061
    2,150   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System Revenue Bonds,    
        Series A, 4.25% due 6/15/2039 (g)   2,008
    500   New York City, New York, City Transitional Finance Authority, Building Aid Revenue Bonds, Series S-1,    
        5% due 7/15/2031 (e)   523
    235   New York City, New York, City Transitional Finance Authority, Future Tax Secured, Revenue Refunding Bonds,    
        Series B, 5% due 11/01/2011 (b)(j)   252
    5,765   New York City, New York, City Transitional Finance Authority, Future Tax Secured, Revenue Refunding Bonds,    
        Series B, 5% due 5/01/2030 (b)   5,927
    1,400   New York City, New York, GO, Series D1, 5.125% due 12/01/2027   1,458
 
           
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   TFABS Tobacco Flexible Amortization Bonds
  IDA Industrial Development Authority   VRDN Variable Rate Demand Notes
  PILOT Payment in Lieu of Taxes      

1


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BlackRock New York Insured Municipal Income Trust    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
                                 Face          
  Amount   Municipal Bonds  
Value
      $ 2,500   New York City, New York, IDA, Civic Facility Revenue Bonds (Lycee Francais de New York Project), Series A,    
      5.375% due 6/01/2023 (a) $    2,463
  550   New York City, New York, IDA, Civic Facility Revenue Refunding Bonds (Polytechnic University),    
      5.25% due 11/01/2037 (a)   500
  6,000   New York City, New York, Sales Tax Asset Receivable Corporation Revenue Bonds, Series A, 5% due 10/15/2032 (b)   6,247
  4,100   New York City, New York, Trust for Cultural Resources Revenue Refunding Bonds    
      (American Museum of Natural History), Series A, 5% due 7/01/2044 (i)   4,216
  6,560   New York Convention Center Development Corporation, New York, Revenue Bonds    
      (Hotel Unit Fee Secured), 5% due 11/15/2044 (b)   6,760
  7,000   New York State Dormitory Authority, Hospital Revenue Bonds (Lutheran Medical Center), 5% due 8/01/2031 (i)   7,166
  5,000   New York State Dormitory Authority, Hospital Revenue Refunding Bonds (New York and Presbyterian Hospital),    
      5% due 8/01/2032 (b)(f)   5,058
  500   New York State Dormitory Authority, Lease Revenue Bonds (State University Dormitory Facilities), 5% due 7/01/2037 (b)   522
  6,000   New York State Dormitory Authority, Mortgage Hospital Revenue Bonds (Saint Barnabas Hospital), Series A,    
      5% due 2/01/2031 (b)(f)   6,141
  750   New York State Dormitory Authority, Non-State Supported Debt Revenue Bonds (Health Quest Systems), Series B,    
      5.125% due 7/01/2037 (c)   773
  2,500   New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds    
      (Mount Sinai School of Medicine of New York University), 5% due 7/01/2035 (i)   2,612
  725   New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds    
      (University of Rochester), Series C, 4.25% due 7/01/2039 (b)   674
  5,000   New York State Dormitory Authority Revenue Bonds (Brooklyn Law School), Series B, 5.125% due 7/01/2030 (n)   5,170
  2,500   New York State Dormitory Authority Revenue Bonds (Fashion Institute of Technology Student Housing Corporation),    
      5.125% due 7/01/2014 (e)(j)   2,748
  3,160   New York State Dormitory Authority Revenue Bonds (Iona College), 5% due 7/01/2027 (n)   3,240
  10,000   New York State Dormitory Authority Revenue Bonds (Memorial Sloan-Kettering Cancer Center), Series 1,    
      5.06% due 7/01/2030 (d)(i)(k)   3,557
  7,000   New York State Dormitory Authority Revenue Bonds (New York University), Series 2, 5% due 7/01/2041 (b)   7,111
  3,000   New York State Dormitory Authority Revenue Bonds (SS Joachim and Anne Residence), 5.25% due 7/01/2027   3,062
  3,500   New York State Dormitory Authority Revenue Bonds (School Districts Financing Program), Series D,    
      5% due 10/01/2030 (i)   3,621
  2,000   New York State Dormitory Authority, Revenue Refunding Bonds (School District Financing Program), Series A,    
      5% due 4/01/2031 (i)   2,064
  2,000   New York State Dormitory Authority, Revenue Refunding Bonds (Winthrop S. Nassau University), Series A,    
      5.25% due 7/01/2031 (b)   2,091
  500   New York State, GO, Series A, 4.125% due 3/01/2037 (e)   454
  1,150   Schuyler County, New York, Human Services Development Corporation Revenue Bonds, 5% due 5/01/2032 (c)   1,198
  2,500   TSASC, Inc., New York, TFABS, Series 1, 5.75% due 7/15/2012 (j)   2,762
  9,400   Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds, 5% due 11/15/2032 (i)   9,700

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BlackRock New York Insured Municipal Income Trust    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
    Face          
    Amount     Municipal Bonds   Value  
Puerto Rico - 5.2%                  $ 1,000   Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Revenue Bonds      
        (University Plaza Project), Series A, 5% due 7/01/2033 (i) $     1,023  
    4,000   Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities, Revenue Refunding Bonds      
        (Polytechnic University), Series A, 5% due 8/01/2032 (a)   4,006  
        Total Municipal Bonds (Cost - $148,747) - 158.4%   152,433  
    Shares          
    Held   Short-Term Securities      
    -*   CMA New York Municipal Money Fund, 3.07% (h)(l)   -*  
        Total Short-Term Securities (Cost - $-*) - 0.0%   -*  
        Total Investments (Cost - $148,747**) - 158.4%   152,433  
        Liabilities in Excess of Other Assets - (0.1%)   (137 )
        Preferred Shares, at Redemption Value - (58.3%)   (56,074 )
        Net Assets Applicable to Common Shares - 100.0% $ 96,222  

*

Amount is less than $1,000.

**     

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2007, as computed for federal income tax purposes, were as follows:

Aggregate cost   $                             148,757  
Gross unrealized appreciation   $ 4,024  
Gross unrealized depreciation     (348 )
Net unrealized appreciation   $ 3,676  
   
(a)     

ACA Insured.

(b)

AMBAC Insured.

(c)

Assured Guaranty Insured.

(d)

Escrowed to maturity.

(e)

FGIC Insured.

(f)

FHA Insured.

(g)

FSA Insured.

(h)

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:

   
Affiliate Net Activity   Dividend Income  
CMA New York Municipal Money Fund -*   $ -*  
* Amount is less than $1,000.        
(i)      

MBIA Insured.

(j)

Prerefunded.

(k)

Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase.

(l)

Represents the current yield as of November 30, 2007.

(m)

Security may have a maturity of more than one year at time of issuance, but has variable rate and demand features that qualify it as a short-term security. The rate disclosed is that currently in effect. This rate changes periodically based upon prevailing market rates.

(n)

XL Capital Insured.

 

3


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BlackRock New York Insured Municipal Income Trust    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
•      Forward interest rate swaps outstanding as of November 30, 2007 were as follows:
          Notional                         Unrealized
    Amount         Depreciation     
  Pay a fixed rate of 3.975% and receive a      
  floating rate based on 1-week USD Bond      
  Market Association Rate      
  Broker, JPMorgan Chase      
  Expires January 2038
$7,000
 
$(238)

 

 

 

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 and 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:   /s/ Donald C. Burke
    Donald C. Burke,
    Chief Executive Officer of
    BlackRock New York Insured Municipal Income Trust
 
Date: January 16, 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:   /s/ Donald C. Burke
    Donald C. Burke,
    Chief Executive Officer (principal executive officer) of
    BlackRock New York Insured Municipal Income Trust
 
Date: January 16, 2008
 
By:   /s/ Neal J. Andrews
    Neal J. Andrews,
    Chief Financial Officer (principal financial officer) of
    BlackRock New York Insured Municipal Income Trust
 
Date: January 16, 2008



Dates Referenced Herein

Referenced-On Page
This ‘N-Q’ Filing    Date First  Last      Other Filings
Filed on / Effective on:1/29/08None on these Dates
1/16/086
For Period End:11/30/0725
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