The Diagnostic code P0160 OBD2 means that the Powertrain Control Module(PCM) has detected a fault in the Oxygen (O2) Sensor number 2 circuit that is located on bank number 2.
The Oxygen (O2) Sensor varies its 5-volt reference supplied by the Powertrain Control Module (PCM), taking into account the oxygen content of the exhaust. This variation can range from 0.1 to 0.9 volts. If there is a rich exhaust, the voltage is high, and if it is poor, the voltage is low.
The pre-catalyst oxygen sensors can change the voltage quickly once or twice a second, but the Oxygen Sensor (O2) number 2 is a post-catalyst sensor, it is normal that it changes more slowly and does not vary the reference voltage so much. In case the O2 sensor is not detected for a certain time, the DTC code P0160 will be set.