BLACKROCK NEW YORK MUNICIPAL BOND TRUST

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 811-21037

Name of Fund: BlackRock New York Municipal Bond Trust (BQH)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New York Municipal Bond Trust, 55 East 52nd Street, New York, NY 10055

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

Date of fiscal year end: 08/31/2014

Date of reporting period: 05/31/2014

Item 1 – Schedule of Investments

Schedule of Investments May 31, 2014 (Unaudited)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York — 135.1%

                 

Corporate — 13.2%

     

City of New York New York Industrial Development Agency, ARB, American Airlines, Inc., JFK International Airport, AMT (a):

     

7.63%, 8/01/25

    $ 750      $ 825,142   

7.75%, 8/01/31

      1,000        1,102,790   

City of New York New York Industrial Development Agency, Refunding RB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/28

      690        736,264   

County of Chautauqua New York Industrial Development Agency, RB, NRG Dunkirk Power Project, 5.88%, 4/01/42

      750        806,872   

County of Essex New York Industrial Development Agency, RB, International Paper Co. Project, Series A, AMT, 6.63%, 9/01/32

      100        111,864   

County of Suffolk New York Industrial Development Agency, RB, KeySpan Generation LLC, Port Jefferson, AMT, 5.25%, 6/01/27

      500        502,530   

New York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35

      250        292,178   

Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42

      375        380,839   

Port Authority of New York & New Jersey, ARB, Continental Airlines, Inc. & Eastern Air Lines, Inc. Project, LaGuardia, AMT, 9.13%, 12/01/15

      920        938,934   
    

 

 

  
               5,697,413   

County/City/Special District/School District — 34.0%

     

City of New York New York, GO, Refunding, Series E, 5.50%, 8/01/25

      455        559,136   

City of New York New York, GO:

     

Series A-1, Fiscal 2009, 4.75%, 8/15/25

      500        567,010   

Series D, 5.38%, 6/01/32

      15        15,062   

Sub-Series D-1, 5.00%, 8/01/31

      245        279,795   

Sub-Series G-1, 5.00%, 4/01/29

      250        283,743   
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

County/City/Special District/School District (continued)

     

City of New York New York, GO (concluded):

   

Sub-Series G-1, 6.25%, 12/15/31

    $ 250      $ 296,443   

Sub-Series I-1, 5.38%, 4/01/36

      450        517,270   

City of New York New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC):

   

5.00%, 11/15/44

      250        262,353   

4.75%, 11/15/45

      500        505,395   

City of New York New York Housing Development Corp., RB, Fund Grant Program, New York City Housing Authority Program, Series B1:

   

5.25%, 7/01/32

      735        838,032   

5.00%, 7/01/33

      250        276,503   

City of New York New York Industrial Development Agency, RB, PILOT:

   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/41 (b)

      5,155        1,395,974   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/42 (b)

      500        126,535   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/43 (b)

      2,000        480,360   

CAB, Yankee Stadium Project, Series A (AGC), 0.00%, 3/01/45 (b)

      950        201,144   

Queens Baseball Stadium (AGC), 6.38%, 1/01/39

      100        116,736   

Queens Baseball Stadium (AMBAC), 5.00%, 1/01/39

      500        508,950   

Yankee Stadium Project (NPFGC), 5.00%, 3/01/46

      175        178,080   

City of New York New York Transitional Finance Authority Future Tax Secured, RB, Sub-Series B1, 5.00%, 11/01/35

      200        226,208   

Hudson Yards Infrastructure Corp., RB, Series A:

   

5.00%, 2/15/47

      650        671,671   

(AGM), 5.00%, 2/15/47

      750        777,412   

(NPFGC), 4.50%, 2/15/47

      600        607,314   

(NPFGC), 5.00%, 2/15/47

      465        480,503   

 

                
   BLACKROCK NEW YORK MUNICIPAL BOND TRUST   

MAY 31, 2014

   

1

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)
(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

County/City/Special District/School District (concluded)

     

New York Liberty Development Corp., Refunding RB:

   

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 2, 5.63%, 7/15/47

    $ 1,350      $ 1,484,419   

2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49

      285        312,166   

4 World Trade Center Project, 5.00%, 11/15/31

      750        822,247   

4 World Trade Center Project, 5.75%, 11/15/51

      340        381,296   

7 World Trade Center Project, Class 1, 4.00%, 9/15/35

      320        333,034   

7 World Trade Center Project, Class 2, 5.00%, 9/15/43

      550        589,138   

7 World Trade Center Project, Class 3, 5.00%, 3/15/44

      520        544,201   
    

 

 

  
        14,638,130   

Education — 33.9%

     

Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A (c)(d):

   

7.00%, 5/01/25

      200        30,020   

7.00%, 5/01/35

      130        19,513   

Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM):

   

4.38%, 10/01/30

      250        262,325   

4.63%, 10/01/40

      140        146,644   

Build NYC Resource Corp., RB, Series A:

   

Bronx Charter School For Excellence Project, 5.50%, 4/01/43

      270        278,554   

Bronx Charter School For International Cultures & The Arts Project, 5.00%, 4/15/33

      200        181,138   

City of New York New York Trust for Cultural Resources, RB, Juilliard School, Series A, 5.00%, 1/01/39

      250        279,647   
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (continued)

     

City of New York New York Trust for Cultural Resources, Refunding RB, Series A:

   

American Museum of National History, 5.00%, 7/01/37 (e)

    $ 110      $ 124,717   

Carnegie Hall, 4.75%, 12/01/39

      400        417,496   

City of Troy New York Capital Resource Corp., Refunding RB, Rensselaer Polytechnic Institute Project, Series A, 5.13%, 9/01/40

      610        653,170   

City of Yonkers New York Industrial Development Agency, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/41

      250        274,845   

County of Cattaraugus New York, St. Bonaventure University Project, 5.00%, 5/01/39

      60        62,279   

County of Dutchess New York Industrial Development Agency, RB, Bard College Civic Facility, Series A-2, 4.50%, 8/01/36

      415        384,734   

County of Monroe New York Industrial Development Corp., RB, University of Rochester Project, Series A:

   

5.00%, 7/01/31

      500        559,670   

5.00%, 7/01/41

      500        541,795   

County of Monroe New York Industrial Development Corp., Refunding RB, University of Rochester Project, Series A, 5.00%, 7/01/38

      120        131,941   

County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%, 3/01/26

      200        210,116   

County of Tompkins New York Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33

      100        111,546   

Geneva Development Corp., Refunding RB, Hobart and William Smith Colleges, 5.25%, 9/01/44

      160        177,683   

New York Dormitory Authority, Refunding RB, New York University, Series A, 5.00%, 7/01/42

      1,750        1,932,140   

 

                
2   

BLACKROCK NEW YORK MUNICIPAL BOND TRUST

   

MAY 31, 2014

   

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)
(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Education (concluded)

     

State of New York Dormitory Authority, RB:

   

Convent of the Sacred Heart (AGM), 5.75%, 11/01/40

    $ 300      $ 337,233   

New York University, Series 1 (AMBAC, BHAC), 5.50%, 7/01/31

      245        300,404   

New York University, Series B, 5.00%, 7/01/42

      1,250        1,380,100   

State University Dormitory Facilities, Series A, 5.00%, 7/01/39

      150        160,179   

Teachers College, Series B, 5.00%, 7/01/42

      1,800        1,950,408   

University of Rochester, Series A, 0.00%, 7/01/39 (f)

      175        190,039   

University of Rochester, Series A, 5.13%, 7/01/39

      215        244,165   

State of New York Dormitory Authority, Refunding RB:

   

Brooklyn Law School, 5.75%, 7/01/33

      125        134,853   

Cornell University, Series A, 5.00%, 7/01/40

      150        171,230   

Fordham University, 5.00%, 7/01/44

      340        376,615   

New York University, Series A, 5.00%, 7/01/37

      445        492,967   

Skidmore College, Series A, 5.00%, 7/01/28

      250        282,380   

State University Dormitory Facilities, Series A, 5.25%, 7/01/30

      350        404,383   

State University Dormitory Facilities, Series A, 5.25%, 7/01/32

      350        399,357   

State University Dormitory Facilities, Series A, 5.00%, 7/01/42

      225        246,591   

Teachers College, 5.50%, 3/01/39

      350        378,157   

Teachers College, Series A, 5.00%, 7/01/31

      325        361,241   
    

 

 

  
        14,590,275   

Health — 20.8%

     

County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A (AGM), 5.75%, 7/01/30

      350        394,044   
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Health (continued)

     

County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27

    $ 150      $ 150,047   

County of Monroe New York Industrial Development Corp., RB, Rochester General Hospital Project, Series A, 5.00%, 12/01/37

      370        396,448   

County of Monroe New York Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40

      275        317,053   

County of Saratoga New York Industrial Development Agency, RB, Saratoga Hospital Project, Series B, 5.25%, 12/01/32

      200        208,494   

County of Suffolk New York Industrial Development Agency, Refunding RB, Jefferson’s Ferry Project, 5.00%, 11/01/28

      260        269,272   

County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien:

   

Series A, 5.00%, 11/01/30

      1,150        1,232,317   

Series B, 6.00%, 11/01/30

      200        228,272   

County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project:

   

4.00%, 1/01/23

      550        558,888   

5.00%, 1/01/34

      500        529,305   

State of New York Dormitory Authority, RB:

   

Mental Health Services (AGM), 5.00%, 8/15/18 (g)

      5        5,843   

Mental Health Services (AGM), 5.00%, 2/15/22

      330        378,893   

New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32

      185        202,760   

New York University Hospitals Center, Series A, 5.75%, 7/01/31

      220        246,404   

New York University Hospitals Center, Series B, 5.63%, 7/01/37

      260        285,371   

 

                
  

BLACKROCK NEW YORK MUNICIPAL BOND TRUST

   

MAY 31, 2014

   

3

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)
(Percentages shown are based on Net Assets)

 

 

Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

Health (concluded)

     

State of New York Dormitory Authority, RB (concluded):

   

North Shore-Long Island Jewish Obligated Group, Series A, 5.50%, 5/01/37

    $ 450      $ 488,641   

North Shore-Long Island Jewish Obligated Group, Series A, 5.75%, 5/01/37

      500        549,945   

State of New York Dormitory Authority, Refunding RB:

   

Miriam Osborn Memorial Home Association, 5.00%, 7/01/29

      290        308,847   

Mount Sinai Hospital, Series A, 5.00%, 7/01/26

      315        351,193   

North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32

      1,000        1,081,860   

North Shore-Long Island Jewish Obligated Group, Series E, 5.50%, 5/01/33

      250        272,880   

St. Luke’s Roosevelt Hospital (FHA), 4.90%, 8/15/31

      500        520,400   
    

 

 

  
        8,977,177   

Housing — 2.0%

     

State of New York HFA, RB, M/F Housing, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39

      500        506,400   

State of New York Mortgage Agency, Refunding RB, 48th Series, 3.70%, 10/01/38

      360        351,061   
    

 

 

  
        857,461   

State — 7.5%

     

State of New York, GO, Series A, 5.00%, 2/15/39

      250        280,553   

State of New York Dormitory Authority, ERB:

   

General Purpose, Series C, 5.00%, 3/15/41

      500        546,540   

Series B, 5.75%, 3/15/36

      300        349,416   

Series C, 5.00%, 12/15/31

      250        274,740   

State of New York Dormitory Authority, RB, General Purpose, Series B, 5.00%, 3/15/42

      250        273,228   

State of New York Thruway Authority, RB, Transportation, Series A, 5.00%, 3/15/32

      80        91,087   
Municipal Bonds   

Par  

(000)

     Value  

New York (continued)

                 

State (concluded)

     

State of New York Thruway Authority, Refunding RB, 2nd General Highway and Bridge Trust, Series A, 5.00%, 4/01/32

    $ 1,000      $ 1,116,500   

State of New York Urban Development Corp., RB, State Personal Income Tax, Series C, 5.00%, 3/15/30

      250        287,127   
    

 

 

  
               3,219,191   

Transportation — 17.0%

     

Metropolitan Transportation Authority, RB:

     

Dedicated Tax Fund, Series A, 5.63%, 11/15/39

      250        286,787   

Series A, 5.00%, 11/15/30

      250        280,665   

Series C, 6.50%, 11/15/28

      700        841,589   

Series D, 5.25%, 11/15/41

      1,000        1,095,430   

Metropolitan Transportation Authority, Refunding RB:

     

Series D, 5.25%, 11/15/30

      250        290,430   

Series D, 5.25%, 11/15/31

      250        288,887   

Series D, 5.25%, 11/15/32

      170        195,549   

Series F, 5.00%, 11/15/30

      500        559,930   

Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC Project, Series 8, 6.00%, 12/01/42

      500        556,760   

Port Authority of New York & New Jersey, Refunding ARB:

     

179th Series, 5.00%, 12/01/38

      150        168,572   

Consolidated, 147th Series, AMT, 4.75%, 4/15/37

      150        153,552   

Port Authority of New York & New Jersey, Refunding RB, AMT:

     

178th Series, 5.00%, 12/01/32

      270        299,047   

Consolidated, 146th Series (AGM), 4.50%, 12/01/34

      500        508,880   

State of New York Thruway Authority, Refunding RB, General, Series I:

     

5.00%, 1/01/27

      130        147,804   

5.00%, 1/01/37

      1,000        1,094,970   

5.00%, 1/01/42

      140        150,690   

Triborough Bridge & Tunnel Authority, Refunding RB:

     

CAB, Sub-Series A, 0.00%, 11/15/32 (b)

      170        81,976   

General, CAB, Series B, 0.00%, 11/15/32 (b)

      400        193,052   

 

                
4   

BLACKROCK NEW YORK MUNICIPAL BOND TRUST

   

MAY 31, 2014

   

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)
(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

     Value  

New York (concluded)

                 

Transportation (concluded)

     

Triborough Bridge & Tunnel Authority, Refunding RB (concluded):

   

Sub-Series A, 5.00%, 11/15/30

    $ 100      $ 114,677   
    

 

 

  
        7,309,247   

Utilities — 6.7%

     

Long Island Power Authority, RB, General, Electric System:

   

Series A (AGM), 5.00%, 5/01/36

      225        241,004   

Series C (CIFG), 5.25%, 9/01/29

      500        600,075   

Long Island Power Authority, Refunding RB, Electric System, Series A, 5.50%, 4/01/24

      100        113,177   

State of New York Power Authority, Refunding RB, Series A, 5.00%, 11/15/38

      600        666,102   

Utility Debt Securitization Authority, Refunding RB, Restructuring, Series E, 5.00%, 12/15/41

      1,115        1,259,315   
    

 

 

  
        2,879,673   
Total Municipal Bonds in New York        58,168,567   
    

Multi-State — 6.0%

                 

Housing — 6.0%

     

Centerline Equity Issuer Trust, Series B-2, 7.20%, 11/15/14 (h)(i)

      2,500        2,562,150   

Puerto Rico — 0.1%

                 

Housing — 0.1%

     

Puerto Rico Housing Finance Authority, Refunding RB, M/F Housing, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27

      40        40,183   
Total Municipal Bonds — 141.2%        60,770,900   
 
           

Municipal Bonds Transferred to

Tender Option Bond (TOB) Trusts (j)

  

New York — 19.3%

                 

County/City/Special District/School District — 5.4%

     

City of New York New York, GO, Sub-Series I-1, 5.00%, 3/01/36

      250        280,308   

Municipal Bonds Transferred to

Tender Option Bond (TOB) Trusts (j)

   

Par  

(000)

     Value  

New York (continued)

                 

County/City/Special District/School District (concluded)

     

City of New York New York Transitional Finance Authority, RB, Future Tax Secured, Fiscal 2012, Sub-Series D-1, 5.00%, 11/01/38

    $ 825      $ 915,461   

New York Liberty Development Corp., Refunding RB, 7 World Trade Center Project, Class 1, 5.00%, 9/15/40

      1,050        1,153,540   
    

 

 

  
        2,349,309   

State — 1.3%

     

City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 1/15/39

      500        562,562   

Transportation — 5.1%

     

Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 2/15/47 (k)

      700        799,503   

New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%, 12/15/43

      630        694,178   

State of New York Thruway Authority, Refunding RB, Transportation, Personal Income Tax, Series A, 5.00%, 3/15/31

      600        686,322   
    

 

 

  
        2,180,003   

Utilities — 7.5%

     

City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A, 5.75%, 6/15/40

      405        465,624   

City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution:

   

Fiscal 2011, Series HH, 5.00%, 6/15/32

      990        1,120,452   

 

                
  

BLACKROCK NEW YORK MUNICIPAL BOND TRUST

   

MAY 31, 2014

    5

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

(Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts (j)		   

Par  

(000)

     Value  

New York (concluded)

                 

Utilities (concluded)

     

City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution (concluded):

   

Fiscal 2012, Series BB, 5.00%, 6/15/44

    $ 1,500      $ 1,632,951   
    

 

 

  
        3,219,027   

Total Municipal Bonds Transferred to

Tender Option Bond (TOB) Trusts — 19.3%

  

  

     8,310,901   
Total Long-Term Investments (Cost — $64,521,557) — 160.5%        69,081,801   
Short-Term Securities — 0.3%   
Shares		     Value  

BIF New York Municipal Money Fund, 0.00% (l)(m)

      137,391      $ 137,391   
Total Short-Term Securities (Cost — $137,391) — 0.3%        137,391   
Total Investments (Cost — $64,658,948*) — 160.8%        69,219,192   
Other Assets Less Liabilities — 1.9%        830,852   
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (11.4%)         (4,900,916 ) 
VRDP Shares, at Liquidation Value — (51.3%)        (22,100,000 ) 
    

 

 

  
Net Assets Applicable to Common Shares — 100.0%      $ 43,049,128   
    

 

 

  

 

*   As of May 31, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $ 59,803,108   
 

 

 

  

Gross unrealized appreciation

   $ 4,944,554   

Gross unrealized depreciation

     (428,685 ) 
 

 

 

  

Net unrealized appreciation

   $ 4,515,869   
 

 

 

  
 
Notes to Schedule of Investments

 

(a)   Variable rate security. Rate shown is as of report date.
(b)   Zero-coupon bond.
(c)   Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.
(d)   Non-income producing security.
(e)   When-issued security. Unsettled when-issued transactions were as follows:

 

Counterparty   Value        Unrealized
Appreciation		  

Morgan Stanley & Co. LLC

   $ 124,717         $ 816   

 

(f)   Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.
(g)   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.
(h)   Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(i)   Represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity.
(j)   Represent bonds transferred to a TOB. In exchange for which the Trust acquired residual interest certificates. These bonds serve as collateral in a financing transaction.
(k)   All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreement, which expires on February 15, 2019 is $370,628.

 

                
6    BLACKROCK NEW YORK MUNICIPAL BOND TRUST    MAY 31, 2014   

Schedule of Investments (continued)

    BlackRock New York Municipal Bond Trust (BQH)

 

 

(l)   Investments in issuers considered to be an affiliate of the Trust during the period ended May 31, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate     

SharesHeld
at August 31,

2013

        Net
Activity		        SharesHeld
at May 31,
2014		        Income  

BIF New York Municipal Money Fund

        1,962,512           (1,825,121 )         137,391         $ 115   

 

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

 

Portfolio Abbreviations
AGC    Assured Guarantee Corp.
AGM    Assured Guaranty Municipal Corp.
AMBAC    American Municipal Bond Assurance Corp.
AMT    Alternative Minimum Tax (subject to)
ARB    Airport Revenue Bonds
BARB    Building Aid Revenue Bonds
BHAC    Berkshire Hathaway Assurance Corp.
CAB    Capital Appreciation Bonds
CIFG    CDC IXIS Financial Guaranty
ERB    Education Revenue Bonds
FHA    Federal Housing Administration
GO    General Obligation Bonds
HFA    Housing Finance Agency
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
PILOT    Payment in Lieu of Taxes
RB    Revenue Bonds
SONYMA    State of New York Mortgage Agency

 

Ÿ  

Financial futures contracts outstanding as of May 31, 2014 were as follows:

 

Contracts Sold   Issue     Exchange     Expiration     Notional
Value		     Unrealized
Depreciation		  
(65)     10-Year U.S. Treasury Note        Chicago Board of Trade        September 2014      $ 8,158,516      $ (33,607 ) 

 

                
   BLACKROCK NEW YORK MUNICIPAL BOND TRUST    MAY 31, 2014    7

Schedule of Investments (continued)

   

BlackRock New York Municipal Bond Trust (BQH)

 

Ÿ  

For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

Ÿ  

Fair Value Measurements — Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  Ÿ  

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

  Ÿ  

Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

  Ÿ  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy as of May 31, 2014:

 

     Level 1        Level 2        Level 3      Total  

Assets:

  

Investments:                 

Long-Term Investments1

     —         $ 69,081,801         —      $ 69,081,801   

Short-Term Securities

   $ 137,391           —         —        137,391   
 

 

 

       

 

 

       

 

     

 

 

  

Total

   $ 137,391         $ 69,081,801         —      $ 69,219,192   
 

 

 

       

 

 

       

 

     

 

 

  

1   See above Schedule of Investments for values in each sector.

      

     Level 1        Level 2        Level 3      Total  
Derivative Financial Instruments2                 

Liabilities:

                 

Interest rate contracts

   $ (33,607 )         —         —      $ (33,607 ) 

2   Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

      

 

                
8    BLACKROCK NEW YORK MUNICIPAL BOND TRUST    MAY 31, 2014   

Schedule of Investments (concluded)

   

BlackRock New York Municipal Bond Trust (BQH)

 

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of May 31, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1        Level 2        Level 3      Total  

Assets:

  

Cash pledged for financial futures contracts

   $ 85,000           —         —      $ 85,000   

Liabilities:

                 

TOB trust certificates

     —         $ (4,900,215 )       —        (4,900,215 ) 

VRDP Shares

     —           (22,100,000 )       —        (22,100,000 ) 
 

 

 

       

 

 

       

 

     

 

 

  

Total

   $ 85,000         $ (27,000,215 )       —      $ (26,915,215 ) 
 

 

 

       

 

 

       

 

     

 

 

  

There were no transfers between levels during the period ended May 31, 2014.

 

                
  

BLACKROCK NEW YORK MUNICIPAL BOND TRUST

   

MAY 31, 2014

    9

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 Municipal Bond Trust

 

By:  

/s/ John M. Perlowski

  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock New York Municipal Bond Trust

Date: July 23, 2014

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/ John M. Perlowski

  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock New York Municipal Bond Trust
Date: July 23, 2014
By:  

/s/ Neal J. Andrews

  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock New York Municipal Bond Trust
Date: July 23, 2014