This code was noted as 'BANK 1 CATALYST EFFICIENCY'. My local Lexus
> specialist quoted me $2610.08 for front bank 1 and rear catalytic
> converters. If the code refers to bank 1 why would I have to replace the
> rear converter? Does this seem like a fair quote?
>
> 2002 Lexus GS300.
"Bank 1" refers to the cylinder bank that contains Cylinder #1. In the case of an in-line engine, there is no Bank 2; only Bank 1. I'm pretty sure that your car has only 1 catalytic converter but it has two O2 sensors - 1 before the converter and 1 after the converter. The dealer is probably replacing the catalytic converter and both O2 sensors for that price.
The catalytic converter failure may be covered by the 8 year, 80,000 miles emissions performance warranty although you may have to pay for the O2 sensors. Ask your service department about emissions warranty coverage.