Members of Fifa’s ethics committee met this week after the Swiss attorney general opened criminal proceedings against Blatter, 79, last month.
He was accused of signing a contract “unfavourable” to football’s governing body and making a “disloyal payment” to Uefa president Michel Platini, 60.
Swiss Blatter, who had run Fifa since 1998, and Platini, who wanted to succeed him, denied any wrongdoing.
A final decision is likely to be made today by Hans Joachim Eckhert, the head of Fifa’s ethics adjudicatory chamber.
Blatter’s adviser Klauss Stohlker told BBC Sport: “The news was communicated to the president this afternoon. He is calm. Remember he is the father of the ethics committee.
“This is provisional for 90 days but he is not actually suspended. The committee has not yet made a decision and their meetings continue.”
On Wednesday, Blatter told a German magazine that he was being “condemned without there being any evidence for wrongdoing”.
The ethics committee had been meeting in Zurich since Monday and have yet to make a decision on Platini.
The investigation is centred on allegations believed to be around a 2005 TV rights deal between Fifa and Jack Warner, the former president of Concacaf, the governing body of football in North and Central America and the Caribbean.
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