unfortunately, it the converter. The reason for the code is you have an O2 sensor before and after the converter to monitor it/them, you have more than one converter, hence the bank one. When the converter is working properly, the front O2 swings from lean to rich to help the ECU manage fuel/air mixture, while the rear stays pretty much in the middle, indicating that the excess "rich" is being burned properly. When the converter is not working properly, the rear O2 swings back and forth with the front one, indicating that the exhaust coming out of the converter is the same mixture as going in. The fix is not cheap because I believe on your car the converters are part of the exhaust manifold, which is on the expensive side. You won't pass inspection as long as that light is on and when you clear it, it clears the "rediness" monitor, meaning it hasn't passed its self test. You also won't pass inspection if the engine light is cleared and the monitors haven't passed yet so you really need to fix the problem in order to pass inspection. A little long for a response but I hope it helped, sorry the news wasn't better



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