My car has thrown this code about 4 times since I bought it in August. I have an Automatic Link which lets me check the DTC as well as clear it. Here's all the information I have on this code:
Catalyst System Efficiency Below Threshold Bank 2
The catalytic converter (which converts pollutant gases from the engine exhaust into less harmful ones) may not be working properly, causing an increase in tailpipe emissions. You will likely not notice any drivability problems, although it could result in reduced power output from the vehicle.
I've cleared the light 3 times through this app and the error stays away for a couple months it seems before coming back. I asked someone about it and they said driving at highway speeds should clear the light too. In any case it doesn't seem like a drastic issue but one to have addressed nonetheless