"Institutional racism" is, as I understand it, racism that is legitimized by law. When blacks were segregated by law, that was institutionalized racism. The only institutionalized discrimination that still exists is against homosexuals, who up until recently were by law not allowed to serve openly in the military, are still by law unable to marry in most states.
That is not to say that racism itself doesn't exist; it does. But I cannot think of any example of "Institutional racism" that still exists.