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Monitors the efficiency of the catalytic converter. These codes are set when the Powertrain Control Module (PCM) determines the oxygen storage capability of the catalytic converter has been degraded to less than a calibrated threshold.
Are there any other DTCs set?
The service manual calls for a physical damage check of the converter and an inspection for leaks, damage, and loose or missing hardware from the exhaust system.
Manual also calls for checks that the HO2S 1 and HO2S 2 are secure and that the pigtails and wiring are not damaged or contacting the exhaust. You may want to reference the service manual for the complete analysis checklist before replacing the catalytic converter.