0001287695-11-000563.txt : 20111031 0001287695-11-000563.hdr.sgml : 20111031 20111031134213 ACCESSION NUMBER: 0001287695-11-000563 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110831 FILED AS OF DATE: 20111031 DATE AS OF CHANGE: 20111031 EFFECTIVENESS DATE: 20111031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST CENTRAL INDEX KEY: 0001181024 IRS NUMBER: 816105964 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-21179 FILM NUMBER: 111167598 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY STREET 2: MUTUAL FUND DEPARTMENT CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 888-825-2257 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY STREET 2: MUTUAL FUND DEPARTMENT CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK NEW YORK INSURED MUNICIPAL INCOME TRUST DATE OF NAME CHANGE: 20020904 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK NEW YORK MUNICIPAL INCOME TRUST III DATE OF NAME CHANGE: 20020816 NSAR-B 1 answer.fil PAGE 1 000 B000000 08/31/2011 000 C000000 0001181024 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 BLK NEW YORK MUNICIPAL INCOME QUALITY TRUST 001 B000000 811-21179 001 C000000 8004417762 002 A000000 100 BELLEVUE PARKWAY 002 B000000 WILMINGTON 002 C000000 DE 002 D010000 19809 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 BLACKROCK ADVISORS, LLC 008 B000001 A 008 C000001 801-47710 008 D010001 WILMINGTON 008 D020001 DE 008 D030001 19809 008 A000002 BLACKROCK FINANCIAL MANAGEMENT, INC. 008 B000002 S 008 C000002 801-48433 008 D010002 NEW YORK 008 D020002 NY 008 D030002 10055 012 A000001 COMPUTERSHARE TRUST COMPANY, N.A. 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ANDREWS TITLE CFO EX-99.77E LEGAL 2 77Ebse.htm Unassociated Document
 
 

 

NSAR Item 77E Litigation Disclosure for BlackRock New York Municipal Income Quality Trust ("BSE")

A purported derivative complaint had been filed by Roy Curbow and other shareholders of BlackRock New York Municipal Income Quality Trust ("BSE") on July 27, 2010 in the Supreme Court of the State of New York, New York County. The complaint names BlackRock Advisors, LLC, BlackRock, Inc. and certain of the board members, officers and portfolio managers of BSE as defendants. The complaint alleges, among other things, that the parties named in the complaint breached fiduciary duties owed to BSE and their common shareholders and committed waste by redeeming BSE’s auction preferred shares at their liquidation preference. The complaint seeks unspecified damages for losses purportedly suffered by BSE as a result of the prior redemptions and injunctive relief preventing BSE from redeeming auction preferred shares at their liquidation preference in the future and awarding the plaintiffs the costs and disbursements of the action, including reasonable attorneys', accountants' and experts' fees and expenses.  BlackRock Advisors, LLC, BlackRock, Inc. and the other parties named in the complaint believe that the claims asserted in the complaint are without merit and intend to vigorously defend themselves in the litigation.


 
 

 

EX-99.77B ACCT LTTR 3 nsarbse103111.htm Unassociated Document
 
 

 


 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
 

 
To the Shareholders and Board of Trustees of BlackRock New York Municipal Income Quality Trust:
 

 
 
In planning and performing our audit of the financial statements of BlackRock New York Municipal Income Quality Trust (the “Trust”), as of and for the year ended August 31, 2011, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Trust’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting.  Accordingly, we express no such opinion.
 
 
The management of the Trust is responsible for establishing and maintaining effective internal control over financial reporting.  In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.  A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.  A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a company's assets that could have a material effect on the financial statements.
 
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.
 
 
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis.  A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.
 
 
Our consideration of the Trust’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States).  However, we noted no deficiencies in the Trust’s internal control over financial reporting and its operation, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of August 31, 2011.
 
 
This report is intended solely for the information and use of management and the Board of Trustees of BlackRock New York Municipal Income Quality Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
 
 

 
 

 
 

 
 

 
 

Deloitte & Touche LLP
Boston, Massachusetts
October 28, 2011