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 811-21346
Name of Fund: BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Muni New York Intermediate Duration Fund, Inc., 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: 07/31/2015
Date of reporting period: 10/31/2014
Item 1 – Schedule of Investments
Schedule of Investments October 31, 2014 (Unaudited) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
(Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||
New York — 133.2% |
||||||
Corporate — 11.7% | ||||||
City of New York New York Industrial Development Agency, ARB, British Airways PLC Project, AMT, 7.63%, 12/01/32 | $ | 1,000 | $ | 1,005,450 | ||
City of New York New York Industrial Development Agency, Refunding RB, Terminal One Group Association Project, AMT (a): | ||||||
5.50%, 1/01/18 | 1,000 | 1,056,870 | ||||
5.50%, 1/01/21 | 250 | 263,525 | ||||
5.50%, 1/01/24 | 1,000 | 1,051,810 | ||||
County of Essex New York Industrial Development Agency, Refunding RB, International Paper Co. Project, Series A, AMT, 5.20%, 12/01/23 | 1,000 | 1,031,980 | ||||
New York State Energy Research & Development Authority, Refunding RB (NPFGC): | ||||||
Brooklyn Union Gas/Keyspan, Series A, AMT, 4.70%, 2/01/24 | 500 | 521,790 | ||||
Rochester Gas & Electric Corp., Series C, 5.00%, 8/01/32 (a) | 1,000 | 1,065,500 | ||||
Niagara Area Development Corp., Refunding RB, Solid Waste Disposal Facility, Covanta Energy Project, Series B, 4.00%, 11/01/24 (b) | 500 | 507,990 | ||||
Utility Debt Securitization Authority, Refunding RB, New York Restructuring, Series E, 5.00%, 12/15/32 | 1,000 | 1,183,070 | ||||
7,687,985 | ||||||
County/City/Special District/School District — 23.9% | ||||||
Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM), 4.00%, 10/01/24 | 1,000 | 1,067,520 | ||||
City of New York New York, GO, Refunding: | ||||||
Fiscal 2013, Series J, 5.00%, 8/01/23 | 1,000 | 1,205,090 | ||||
Series E, 5.25%, 8/01/22 | 2,000 | 2,438,120 | ||||
Series E, 5.00%, 8/01/30 | 1,250 | 1,445,287 |
Municipal Bonds | Par (000) |
Value | ||||
New York (continued) |
||||||
County/City/Special District/School District (concluded) | ||||||
City of New York New York, GO: | ||||||
Sub-Series A-1, 5.00%, 8/01/33 | $ | 700 | $ | 807,009 | ||
Sub-Series B-1, 5.25%, 9/01/22 | 750 | 866,452 | ||||
Sub-Series I-1, 5.50%, 4/01/21 | 1,500 | 1,762,980 | ||||
Sub-Series I-1, 5.13%, 4/01/25 | 750 | 862,185 | ||||
City of New York New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC), 5.00%, 11/15/35 | 120 | 124,067 | ||||
City of New York New York Industrial Development Agency, RB, PILOT, Queens Baseball Stadium (AMBAC), 5.00%, 1/01/31 | 1,500 | 1,547,430 | ||||
City of New York New York Industrial Development Agency, Refunding ARB, Transportation Infrastructure Properties LLC, Series A, AMT, 5.00%, 7/01/22 | 750 | 832,493 | ||||
Hudson Yards Infrastructure Corp., RB, Senior, Fiscal 2012, Series A, 5.75%, 2/15/47 | 1,000 | 1,151,390 | ||||
New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.00%, 11/15/31 | 1,000 | 1,121,330 | ||||
United Nations Development Corp., Refunding RB, Series A, 4.25%, 7/01/24 | 500 | 533,640 | ||||
15,764,993 | ||||||
Education — 25.0% | ||||||
Build NYC, Resource Corp., RB, Series A: | ||||||
Bronx Charter School For Excellence Project, 3.88%, 4/15/23 | 505 | 490,946 | ||||
South Bronx Charter School For International Cultures and The Arts Project, 5.00%, 4/01/33 | 750 | 787,800 | ||||
County of Buffalo & Erie New York Industrial Land Development Corp., Refunding RB, Buffalo State College Foundation Housing, 6.00%, 10/01/31 | 1,000 | 1,189,450 |
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 1 |
Schedule of Investments (continued) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
(Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||
New York (continued) |
||||||
Education (continued) | ||||||
County of Monroe New York Industrial Development Corp., Refunding RB, Series A, 5.00%, 7/01/30 | $ | 1,000 | $ | 1,147,490 | ||
County of Nassau New York Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 5.00%, 3/01/21 | 1,000 | 1,123,410 | ||||
County of Saratoga New York, Refunding RB, Skidmore College Project, Series B, 5.00%, 7/01/31 | 500 | 575,200 | ||||
County of Schenectady New York Capital Resource Corp., Refunding RB, Union College, 5.00%, 7/01/32 | 940 | 1,060,320 | ||||
New York City Trust for Cultural Resources, Refunding RB, American Museum of Natural History, Series A, 5.00%, 7/01/32 | 500 | 589,790 | ||||
New York State Dormitory Authority, RB: | ||||||
Convent of the Sacred Heart (AGM), 4.00%, 11/01/18 | 880 | 978,850 | ||||
Convent of the Sacred Heart (AGM), 5.00%, 11/01/21 | 120 | 144,186 | ||||
Fordham University, Series A, 5.25%, 7/01/25 | 500 | 590,160 | ||||
Mount Sinai School of Medicine, 5.50%, 7/01/25 | 1,000 | 1,168,950 | ||||
Mount Sinai School of Medicine, Series A (NPFGC), 5.15%, 7/01/24 | 250 | 289,802 | ||||
Series A, 5.00%, 3/15/32 | 1,000 | 1,186,570 | ||||
New York State Dormitory Authority, Refunding RB: | ||||||
Fordham University, 5.00%, 7/01/29 | 375 | 433,429 | ||||
Fordham University, 5.00%, 7/01/30 | 300 | 344,850 | ||||
Pace University, Series A, 5.00%, 5/01/27 | 1,000 | 1,104,050 | ||||
The Culinary Institute of America, 5.00%, 7/01/28 | 500 | 554,995 | ||||
State of New York Dormitory Authority, RB, Touro College & University System Obligation Group, Series A, 4.13%, 1/01/30 | 1,000 | 1,020,880 |
Municipal Bonds | Par (000) |
Value | ||||
New York (continued) |
||||||
Education (concluded) | ||||||
State of New York Dormitory Authority, Refunding RB, Series A: | ||||||
State University Dormitory Facilities, 5.25%, 7/01/30 | $ | 1,050 | $ | 1,254,729 | ||
Teachers College, 5.00%, 7/01/31 | 375 | 424,365 | ||||
16,460,222 | ||||||
Health — 20.7% | ||||||
Build NYC Resource Corp., Refunding RB, New York Methodist Hospital Project, 5.00%, 7/01/30 | 500 | 566,740 | ||||
City of New York New York Industrial Development Agency, RB, PSCH, Inc. Project, 6.20%, 7/01/20 | 1,415 | 1,415,212 | ||||
County of Dutchess New York Industrial Development Agency, RB, Vassar Brothers Medical Center (AGC), 5.00%, 4/01/21 | 215 | 250,531 | ||||
County of Dutchess New York Local Development Corp., Refunding RB, Health Quest System, Inc., Series A (AGM), 5.25%, 7/01/25 | 1,000 | 1,154,420 | ||||
County of Erie New York Industrial Development Agency, RB, Episcopal Church Home, Series A, 5.88%, 2/01/18 | 325 | 325,920 | ||||
County of Genesee New York Industrial Development Agency, Refunding RB, United Memorial Medical Center Project, 4.75%, 12/01/14 | 150 | 150,422 | ||||
County of Suffolk New York Industrial Development Agency, Refunding RB, Jefferson’s Ferry Project, 4.63%, 11/01/16 | 800 | 848,576 | ||||
County of Westchester New York Healthcare Corp., Refunding RB, Senior Lien: | ||||||
Remarketing, Series A, 5.00%, 11/01/24 | 910 | 1,023,623 | ||||
Remarketing, Series A, 5.00%, 11/01/30 | 650 | 715,578 | ||||
Series B, 6.00%, 11/01/30 | 240 | 279,696 |
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 2 |
Schedule of Investments (continued) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
(Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||
New York (continued) |
||||||
Health (concluded) | ||||||
County of Westchester New York Industrial Development Agency, RB, Special Needs Facilities Pooled Program, Series D-1, 6.80%, 7/01/19 | $ | 515 | $ | 517,838 | ||
County of Westchester New York Local Development Corp., Refunding RB, Kendal On Hudson Project: | ||||||
3.00%, 1/01/18 | 500 | 516,195 | ||||
4.00%, 1/01/23 | 480 | 507,528 | ||||
5.00%, 1/01/28 | 875 | 947,441 | ||||
New York State Dormitory Authority, RB: | ||||||
New York State Association for Retarded Children, Inc., Series A, 5.30%, 7/01/23 | 450 | 515,299 | ||||
New York University Hospitals Center, Series A, 5.00%, 7/01/22 | 1,000 | 1,145,250 | ||||
New York University Hospitals Center, Series B, 5.25%, 7/01/24 | 355 | 379,974 | ||||
New York State Dormitory Authority, Refunding RB: | ||||||
Mount Sinai Hospital Series A, 4.25%, 7/01/23 | 250 | 269,823 | ||||
North Shore-Long Island Jewish Obligated Group, Series E, 5.00%, 5/01/22 | 650 | 730,944 | ||||
State of New York Dormitory Authority, Refunding RB, North Shore-Long Island Jewish Obligated Group, Series A, 5.00%, 5/01/32 | 500 | 555,230 | ||||
Yonkers New York Industrial Development Agency, RB, Sacred Heart Association Project, Series A, AMT (SONYMA), 4.80%, 10/01/26 | 750 | 797,655 | ||||
13,613,895 | ||||||
Housing — 3.7% | ||||||
City of New York New York Housing Development Corp., RB, M/F Housing: | ||||||
Series B1, 5.25%, 7/01/30 | 500 | 582,785 | ||||
Series H-2-A, Remarketing, AMT, 5.00%, 11/01/30 | 780 | 804,968 |
Municipal Bonds | Par (000) |
Value | ||||
New York (continued) |
||||||
Housing (concluded) | ||||||
City of New York New York Housing Development Corp., Series 2014-8SPR, Class F, 4.50%, 11/15/24 (b)(c) | $ | 500 | $ | 508,815 | ||
State of New York Mortgage Agency, Refunding RB, S/F Housing, 143rd Series, AMT, 4.85%, 10/01/27 | 500 | 521,490 | ||||
2,418,058 | ||||||
State — 11.6% | ||||||
New York City Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.00%, 1/15/23 | 575 | 655,029 | ||||
New York State Dormitory Authority, RB: | ||||||
Haverstraw King's Daughters Public Library, 5.00%, 7/01/26 | 1,015 | 1,177,694 | ||||
Municipal Health Facilities Lease, Sub-Series 2-4, 5.00%, 1/15/27 | 600 | 664,158 | ||||
New York State Thruway Authority, Refunding RB, Series A-1, 5.00%, 4/01/22 | 1,000 | 1,152,580 | ||||
New York State Urban Development Corp., RB: | ||||||
Personal Income Tax, Series A-1, 5.00%, 3/15/32 | 400 | 461,388 | ||||
Service Contract, Series B, 5.00%, 1/01/21 | 1,500 | 1,699,470 | ||||
Sales Tax Asset Receivable Corp., Refunding RB, Fiscal 2015, Series A, 5.00%, 10/15/31 | 1,000 | 1,206,390 | ||||
State of New York Thruway Authority, RB, Transportation, Series A, 5.00%, 3/15/32 | 250 | 288,368 | ||||
State of New York Urban Development Corp., RB, State Personal Income Tax, Series A, 3.50%, 3/15/28 | 305 | 316,974 | ||||
7,622,051 | ||||||
Tobacco — 0.8% | ||||||
Niagara Tobacco Asset Securitization Corp., Refunding RB, 5.25%, 5/15/34 | 500 | 565,670 | ||||
Transportation — 23.9% | ||||||
Metropolitan Transportation Authority, RB: | ||||||
Series A, 5.00%, 11/15/27 | 1,000 | 1,168,790 |
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 3 |
Schedule of Investments (continued) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
(Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||
New York (continued) |
||||||
Transportation (concluded) | ||||||
Series A (NPFGC), 5.00%, 11/15/24 | $ | 1,010 | $ | 1,100,072 | ||
Series A-1, 5.25%, 11/15/33 | 500 | 580,750 | ||||
Metropolitan Transportation Authority, RB (concluded): | ||||||
Series B, 5.25%, 11/15/33 | 1,000 | 1,169,160 | ||||
Series B (NPFGC), 5.25%, 11/15/19 | 860 | 1,020,545 | ||||
Series H, 5.00%, 11/15/30 | 500 | 577,905 | ||||
Sub-Series B-1, 5.00%, 11/15/24 | 460 | 552,156 | ||||
Sub-Series B-4, 5.00%, 11/15/24 | 300 | 360,102 | ||||
Port Authority of New York & New Jersey, ARB, JFK International Air Terminal LLC Project, 5.00%, 12/01/20 | 1,000 | 1,149,620 | ||||
Port Authority of New York & New Jersey, RB, Consolidated, 169th Series, AMT, 5.00%, 10/15/21 | 2,000 | 2,373,020 | ||||
Port Authority of New York & New Jersey, Refunding ARB, Consolidated, 152nd Series, AMT, 5.00%, 11/01/23 | 500 | 552,210 | ||||
Port Authority of New York & New Jersey, Refunding RB, AMT: | ||||||
178th Series, 5.00%, 12/01/32 | 1,000 | 1,131,620 | ||||
Consolidated, 152nd, 5.00%, 11/01/24 | 1,000 | 1,101,450 | ||||
State of New York Thruway Authority, Refunding RB, General, Series I, 5.00%, 1/01/37 | 1,000 | 1,115,780 | ||||
Triborough Bridge & Tunnel Authority, Refunding RB, Series A: | ||||||
5.00%, 11/15/24 | 1,000 | 1,207,060 | ||||
5.00%, 1/01/27 | 500 | 586,550 | ||||
15,746,790 | ||||||
Utilities — 11.9% | ||||||
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution: | ||||||
Series DD, 5.00%, 6/15/32 | 500 | 557,295 | ||||
Series EE, 5.00%, 6/15/34 | 3,000 | 3,434,580 |
Municipal Bonds | Par (000) |
Value | ||||
New York (concluded) |
||||||
Utilities (concluded) | ||||||
Long Island Power Authority, Refunding RB: | ||||||
Electric System, Series A, 5.50%, 4/01/24 | $ | 500 | $ | 566,300 | ||
Long Island Power Authority, Refunding RB (concluded): | ||||||
General, Series D (NPFGC), 5.00%, 9/01/25 | 2,000 | 2,138,840 | ||||
New York State Environmental Facilities Corp., Refunding RB, NYC Municipal Water Finance Authority Project, 2nd Resolution, Series B, 5.00%, 6/15/31 | 1,000 | 1,168,580 | ||||
7,865,595 | ||||||
Total Municipal Bonds in New York | 87,745,259 | |||||
Puerto Rico — 2.3% |
||||||
Housing — 2.3% | ||||||
Puerto Rico Housing Finance Authority, Refunding RB, M/F Housing, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27 | 1,405 | 1,503,828 | ||||
Total Municipal Bonds — 135.5% | 89,249,087 | |||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d) | ||||||
New York — 16.2% |
||||||
County/City/Special District/School District — 4.1% | ||||||
City of New York New York, GO, Refunding, Series E, 5.00%, 8/01/27 | 599 | 687,486 | ||||
City of New York New York, GO: | ||||||
Series I, 5.00%, 3/01/32 | 991 | 1,155,210 | ||||
Sub-Series G-1, 5.00%, 4/01/29 | 750 | 860,880 | ||||
2,703,576 | ||||||
State — 2.6% | ||||||
New York State Urban Development Corp., RB, Personal Income Tax, Series A-1, 5.00%, 3/15/32 | 1,499 | 1,728,969 | ||||
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 4 |
Schedule of Investments (continued) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
(Percentages shown are based on Net Assets) |
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (d) | Par (000) |
Value | ||||
New York (concluded) |
||||||
Transportation — 4.3% | ||||||
Metropolitan Transportation Authority, RB, Series B, 5.25%, 11/15/25 | $ | 749 | $ | 883,776 | ||
Port Authority of New York & New Jersey, ARB, Consolidated, 169th Series, AMT, 5.00%, 10/15/26 | 750 | 853,463 | ||||
Port Authority of New York & New Jersey, RB, 178th Series, AMT, 5.00%, 12/01/32 | 991 | 1,121,424 | ||||
2,858,663 | ||||||
Utilities — 5.2% | ||||||
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 | 1,560 | 1,783,626 | ||||
Series A, 4.75%, 6/15/30 | 1,500 | 1,635,675 | ||||
3,419,301 | ||||||
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts — 16.2% |
10,710,509 | |||||
Total Long-Term Investments (Cost — $92,800,804) — 151.7% |
99,959,596 | |||||
Short-Term Securities | Shares | Value | |||
BIF New York Municipal Money Fund, 0.00% (e)(f) | 452,242 | $ | 452,242 | ||
Total Short-Term Securities (Cost — $452,242) — 0.7% |
452,242 | ||||
Total Investments (Cost — $93,253,046) — 152.4% |
100,411,836 | ||||
Other Assets Less Liabilities — 1.2% | 835,046 | ||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (8.7%) | (5,760,137 | ) | |||
VRDP Shares, at Liquidation Value — (44.9%) | (29,600,000 | ) | |||
Net Assets Applicable to Common Shares — 100.0% | $ | 65,886,747 | |||
* | As of October 31, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: | |||
Tax cost | $ | 87,899,404 | ||
Gross unrealized appreciation | $ | 7,213,469 | ||
Gross unrealized depreciation | (460,206 | ) | ||
Net unrealized appreciation | $ | 6,753,263 | ||
Notes to Schedule of Investments | ||
(a) | Variable rate security. Rate shown is as of report date. | |
(b) | 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. | |
(c) | When-issued security. Unsettled when-issued transactions were as follows: | |
Counterparty | Value | Unrealized Appreciation |
||||||||||||||||
Merrill Lynch, Pierce, Fenner & Smith, Inc. | $ | 508,815 | $ | 8,815 | ||||||||||||||
(d) | Represent bonds transferred to a TOB. In exchange for which the Fund received cash and residual interest certificates. These bonds serve as collateral in a financing transaction. |
(e) | Investments in issuers considered to be an affiliate of the Fund during the period ended October 31, 2014, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 5 |
Schedule of Investments (continued) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
Affiliate | Shares Held at July 31, 2014 |
Net Activity |
Shares Held at October 31, 2014 |
Income | |||||||||||||||||
BIF New York Municipal Money Fund | 441,039 | 11,203 | 452,242 | $ | — | ||||||||||||||||
(f) | 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 | |
GO | General Obligation Bonds | |
M/F | Multi-Family | |
NPFGC | National Public Finance Guarantee Corp. | |
PILOT | Payment in Lieu of Taxes | |
RB | Revenue Bonds | |
S/F | Single Family | |
SONYMA | State of New York Mortgage Agency | |
• | Financial futures contracts outstanding as of October 31, 2014 were as follows: |
Contracts Sold |
Issue | Exchange | Expiration | Notional Value |
Unrealized Appreciation |
|||
(57) | 10-Year U.S. Treasury Note | Chicago Board of Trade | December 2014 |
$ | 7,202,484 | $ | 9,370 | |
• | For Fund compliance purposes, the Fund’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 | |
• |
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. 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. 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. The three levels of the fair value hierarchy are as follows:
|
|
• | Level 1 — unadjusted quoted prices in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access | |
• | 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) | |
• | 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) |
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 6 |
Schedule of Investments (concluded) | BlackRock Muni New York Intermediate Duration Fund, Inc. (MNE) |
| ||
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. 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 annual report. | ||
The following tables summarize the Fund's investments and derivative financial instruments categorized in the disclosure hierarchy as of October 31, 2014: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Investments: | ||||||||||||||||
Long-Term Investments1 | — | $ | 99,959,596 | — | $ | 99,959,596 | ||||||||||
Short-Term Securities | $ | 452,242 | — | 452,242 | ||||||||||||
Total | $ | 452,242 | $ | 99,959,596 | — | $ | 100,411,838 | |||||||||
1 | See above Schedule of Investments for values in each sector. |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Derivative Financial Instruments 2 | |||||||||||||||
Assets: | |||||||||||||||
Interest rate contracts | $ | 9,370 | — | — | $ | 9,370 | |||||||||
2 | Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of October 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 | $ | 70,000 | — | — | $ | 70,000 | |||||||||||
Liabilities: | |||||||||||||||||
TOB trust certificates | — | $ | (5,759,171) | — | (5,759,171) | ||||||||||||
VRDP Shares | — | (29,600,000) | — | (29,600,000) | |||||||||||||
Total | $ | 70,000 | $ | (35,359,171) | — | $ | (35,289,171) | ||||||||||
There were no transfers between levels during the period ended October 31, 2014. |
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. | OCTOBER 31, 2014 7 |
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 Muni New York Intermediate Duration Fund, Inc. | ||
By: | /s/ John M. Perlowski | |
John M. Perlowski | ||
Chief Executive Officer (principal executive officer) of | ||
BlackRock Muni New York Intermediate Duration Fund, Inc. | ||
Date: December 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 Muni New York Intermediate Duration Fund, Inc. | ||
Date: December 23, 2014 | ||
By: | /s/ Neal J. Andrews | |
Neal J. Andrews | ||
Chief Financial Officer (principal financial officer) of | ||
BlackRock Muni New York Intermediate Duration Fund, In c. | ||
Date: December 23, 2014 |