What was going on when I was born?

Representative Geraldine A. Ferraro said today that in the aftermath of her comments about the depth of President's Reagan's religous commitment she might have to think more before she speaks. Mrs. Ferraro said Friday that Mr. Reagan ''walks around calling himself a good Christian but I don't for one minute believe it because the policies are so terribly unfair.'' The Reagan campaign attacked her Saturday, saying she had spoiled the start of her candidacy by casting doubt on the President's religious beliefs. Mrs. Ferraro, a Roman Catholic, said in an interview that she had been irritated at her first campaign stop after Walter F. Mondale designated her as his Democratic running mate when she saw signs that questioned how good a Catholic she was. ''I guess that gets to you,'' she said after attending mass at the Catholic church here. ''You kind of turn around and say: 'Don't do that to me. If you're going to do it, I'm not going to stand by and let you get away with it.' That I may have to control.''

John M. Pieper stood before 1,000 anxious law- school graduates the other day and reflected on the ordeal he had subjected them to. For eight weeks he had told them everything they needed to know about pleadings, bailments and 31 other subjects covered on the New York State bar examination. Now, it was up to them. ''I'll say a prayer for you on Tuesday,'' he said, referring to July 24, the day this year's exam is to be given. ''Study hard, and when it gets difficult, think of the ones who have loved you and supported you, and work a little harder for them. I thank you. God bless you.''

A front-page caption on July 6 incorrectly described a picture of soldiers on parade in La Paz, Bolivia. They were escorting Venezuelan officials to a statue of Simon Bolivar for a traditional celebration of Venezuela's independence day.

The United States Government guaranteed $425 million of loans to help Iraq build an oil pipeline through Jordan only after Iraq revised the proposal to include large quantities of American steel pipe, according to Reagan Administration officials. The Export-Import Bank was initially opposed to giving financial guarantees for the pipeline because it believed that the Iran-Iraq war posed excessive financial risks, the officials said. Those reservations were overcome when Iraq agreed to order about $100 million worth of American steel pipe, which was not part of the original proposal, Administration officials said. The episode shows the role that steel politics is playing this election year. ''You can bet this order is going to be played hard up and down the steel country,'' one Reagan official said.

MONDAY, JULY 16, 1984 The Economy The Federal Open Market Committee meets today and Tuesday, and committee members and monetary experts appear ambivalent on the direction it will set. Some analysts believe the Fed will encourage no more than a fractional increase in interest rates, at least through the summer. Some doubt the Fed will even go that far. (Page D1.) The Treasury, citing the need for cash, will increase its weekly bill auctions today. (D7.)

This British colony pursues commerce and wealth so single-mindedly that its magnificent natural setting has become a mere backdrop to its driving purpose. Tall buildings sprout everywhere, their walls often dense with advertising. Open stretches of sidewalk turn into crowded markets. Within this hectic landscape, the sleek new headquarters being built by the Hongkong and Shanghai Banking Corporation is a striking reminder of its leading role in the colony. In recent years ''the Bank,'' as it is known here, has grown into a force beyond the colony, too. The bank's modernistic headquarters - with 43 floors suspended from round steel masts, looking like a cross between a bridge and an offshore oil platform - is a fitting monument to the kind of dynamic institution it has become under Michael Sandberg, chairman since 1977.

An article in The Home Section Thursday misstated the amount of money that parents may give to children without gift-tax consequences. Each parent may give each child or grandchild $10,000 a year in addition to making direct payments for educational and medical expenses.

Stronger controls on nuclear exports were decided on by Western countries that supply nuclear technology at a secret meeting in Luxembourg last week, Reagan Administration officials said. The suppliers reportedly agreed they had to do more to prevent the spread of the ability to build nuclear weapons. (Page A1, Column 1.) New Zealand's Prime Minister-elect said he wanted avoid an early confrontation with Australia and the United States over the issue of nuclear-armed and nuclear-powered ships. But David Lange, whose party swept to victory in the general elections Saturday, said he stood by his party's pledge to ban such vessels from New Zealand waters. (A1:2.)

Western countries that supply nuclear technology met in Luxembourg last week and decided to strengthen controls on nuclear exports, according to Administration officials. The officials said the suppliers agreed they had to do more - expanding safeguards on existing plants, pressing new suppliers to tighten sales and controlling transfers of components - to prevent the spread of the ability to build nuclear weapons. The meeting, arranged at the iniative of the Reagan Administration, began on Wednesday and concluded on Friday. Meeting Kept Secret The participants decided to keep the meeting secret to avoid charges, as one Administration official put it, ''of the big guys ganging up on the little ones'' to dictate terms for nuclear cooperation.

An article in Business Day Friday about ARA Services misidentified the former executive seeking to acquire the company. He is William Siegel.

For weeks, Walter F. Mondale's overall campaign strategy has called for using the Democratic National Convention opening here Monday to focus the attention of the delegates on the need for party unity and that of the nation on the themes of the election campaign. uf1013 But with his rapid-fire decisions to pick a woman as his running mate and to elevate Bert Lance to a position of leadership, along with his aborted effort to oust Charles T. Manatt as party chairman, Mr. Mondale has instead riveted this city's attention on the question of his own political judgment. Respect for Mr. Mondale's acumen and daring soared with the announcement Thursday that he had chosen Representative Geraldine A. Ferraro of Queens as his running mate. But the former Vice President's decision to tap Mr. Lance, the Georgia party chairman, as general chairman of the Mondale-Ferraro campaign dismayed key Mondale supporters and shook their confidence in the campaign's sense of political timing. Tension and Confusion Develop The weekend of maneuvering reached a conclusion that some saw as embarrassing this afternoon when Mr. Mondale, forced to back down by an outpouring of protests from party leaders, abandoned efforts to make Mr. Manatt step down as chairman of the Democratic National Committee.

Faced with rising protests from the Democratic convention delegates who he expects will nominate him for the Presidency, Walter F. Mondale reversed himself today and decided to keep Charles T. Manatt as party chairman. On the eve of the Democratic National Convention, Jim Johnson, the Mondale campaign manager, emerged from an all-day negotiating session to announce that Mr. Mondale had backed down on his intention to remove Mr. Manatt. But Mr. Mondale said he would stick to his plan to put Bert Lance in overall charge of his campaign despite considerable discontent among party leaders and delegates about that appointment. National Committee Changes In addition, Mr. Johnson also announced that Michael Berman, a senior Mondale aide, would become director of the Democratic National Committee, supervising the day-to-day political operations of the committee and handling its liaison with the Mondale campaign, while Mr. Manatt would concentrate on raising ''unprecedented'' funds for the Democratic campaign. Mr. Johnson suggested that the two men would have co-equal status. The Mondale campaign decided to negotiate with Mr. Manatt after the Rev. Jesse Jackson called the removal of Mr. Manatt ''a comedy of errors,'' aides of Senator Gary Hart said the Mondale action was ''presumptuous,'' and important labor leaders asserted it had slowed Mr. Mondale's political momentum.