I've never liked the term "institutional racism" since civil rights laws have removed overt forms of racism officially practiced by institutions. Racism still exists, but it morphs into forms that escape civil rights laws.
"Historical racism" might be a more useful term. The lingering effects of past history when racism was more institutionalized. For instance today's restrictive zoning for "single family" leading to high housing costs in so many neighborhoods. This continues to perpetuate some segregation of race based, in part, on who's grandparents were able to buy property in certain neighborhoods of the 1940s and 1950s. This effects who has access to inheritances today which still effects who can afford to live where.