Bank volume is the baseline measurement for earthwork bidding. It does not include the expansion that occurs when soil is excavated, nor the compaction that occurs when soil is placed and rolled.
Most engineering drawings call out earthwork in bank cubic yards (BCY). Unit prices for excavation are typically bid per BCY. To convert BCY to trucking quantities, apply a swell factor.
When you see a grading plan with hatched cut and fill zones and a quantity callout, that quantity is almost always in BCY. Compacted-yard pricing and loose-yard pricing exist as separate bid items.