Action Taken When the DTC Sets

WARNING: This page is about a different car, the 2007 GMC Yukon XL and 2007 Chevrolet Suburban. However, it is still accessible from the selected car via links, so may be relevant.

The TCM illuminates the malfunction indicator lamp (MIL) during the second consecutive trip in which the Conditions for Setting the DTC are met.
The TCM commands maximum line pressure.
The TCM freezes transmission adaptive functions.
The TCM calculates vehicle speed from the input speed sensor and commanded gear.
The TCM records the operating conditions when the Conditions for Setting the DTC are met. The TCM stores this information as Freeze Frame and Failure Record.
The TCM stores DTC P0723 in TCM history.